I'm also curious as to how Allin's results were arrived at. How do you reconcile them with the fact that price to earnings ratios have reached historic highs during the last 2 years?: DJIA P/E ratio: 22.7; earnings $466.06 - dividend yield < 1.7% S&P 500 P/E ratio: 24.5; earnings $50.81 - dividend yield < 1.3% (data for April 23 2001 from fiendbear.com) Cheers, Steve At 06:26 AM 4/24/01 Tuesday, you wrote: >ope-l@galaxy.csuchico.edu Dr. Steve Keen Senior Lecturer Economics & Finance Campbelltown, Building 11 Room 30, School of Economics and Finance UNIVERSITY WESTERN SYDNEY LOCKED BAG 1797 PENRITH SOUTH DC NSW 1797 Australia s.keen@uws.edu.au 61 2 4620-3016 Fax 61 2 4626-6683 Home 02 9558-8018 Mobile 0409 716 088 Home Page: http://bus.uws.edu.au/steve-keen/ http://www.debunking-economics.com http://www.stevekeen.net
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