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<p>[QUOTE=&quot;medoraman, post: 1153826, member: 26302&quot;]But you are assuming the price of the dollar versus other currencies was correct at the beginning of this pattern. I would say the dollar was overvalued then. We were so overvalued that US bidders would literally walk away with entire auction sin Europe at the time. I know I bought a lot of material then. Try going back to the 70&#039;s and see what the relative strength of the dollar was. Also remember people, the US was the only industrial power intact after WWII, we almost had to become more prosperous after that, and us keep looking back to our WWII prosperity is not really helping us find our future.</p><p><br /></p><p>Also, you are ignoring the dividends the markets would have paid out, and we switched to a more incentiveized dividend tax policy, so they went up overall. Without taking dividends into account, your market valuation estimate is skewed.[/QUOTE]</p><p><br /></p>

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