Patterson: Stocks have overperformed. Since 1900, the average yearly price appreciation in the Dow Jones Industrial Average has been just under 5 percent. If you start counting after the stock market crashes of 1929-1931, the average yearly price appreciation is around 7 percent.
Croom:You dont have to be a Keynesian stalwart,actually, Im not any sort of Keynesian,to see that this is bad news.