DISQUS

Rand · 1 year ago

The outlier is also a bit of a fluke. How much of the econmony holding up until 2000 was due to the creative accounting that took over much of the business world in the 1990s. People cut back on their spending when the see the economy slowing down. Corporations reporting profits while they are actually losing money held up the stock market and probably prolonged consumer spending for a couple of years beyond what normally would have occurred.

I would love to see an analysis of what the economy would have looked like in the late 1990s if corporations had been reporting actual numbers. I think you would have seen the Internet bubble burst in about 1998.

robertmerrill · 1 year ago

@rand Wow. I don't know why I hadn't really thought of all that. I think you're right...