From my initial blog: The horizontal axis in my homemade chart represents a monthly timeline, with 0 corresponding to market peaks in 1929 (blue line) and 2008 (red line). The vertical axis is a log scale with 1 being the market high.
Paul Krugman's recent posting uses another, more reliable metric for compating 1929 to 2008. It is scary that history is repeating itself:
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