On Jul 3, 2011, at 4:12 PM, SA wrote:
> I'm not sure if this is in reference to what we were talking about last month at your place,
In part. But also I was countering the assertion that because the EPR fell during the expansion, recession was nigh.
> but if it is...yes, but the same thing happened in the 1950's: In July 1953 it was 57.4% and in April 1960 it was 56.4%.
But that period covers a couple of cycles, The EPR rose in both the 1954-57 and 1958-60 expansions. The 2001-2007 was the only expansion in which the EPR fell - until the current one, that is.