Greg and Doug on Stocks & SS

Doug Henwood dhenwood at panix.com
Tue Jan 26 12:24:55 PST 1999


Seth Ackerman wrote:


>But that's a deeper question, I think, than what Greg was asking, which
>is: how can you flay the privatizers for assuming that stock prices will
>grow faster than GDP while demonstrating with your own chart that stock
>returns have been almost twice GDP growth.

Well they're assuming five. Twice is hard enough to explain; more than twice twice is more than twice as hard.

Doug



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