[PEN-L:1836] Prayin' for a warm Winter

[kelley]

1971 abandonment of the dollar's privileged place in the iternat'l system 
of fixed exchange rates and replacement with system of floating exchange rates.

as mp sez, there was already a profit squeeze.

63-66 saw 15.5% rate of return
67-70 12.7%
71-4=9.7%

kelley


> > Huh?  I recall the '73 oil shock as the key trigger of the '70s inflation.
> > Is this just a trick of memory?
> >
> > Carl