1973-75 Recession History, Chart, 2009 Comparison?

I provided a S&P chart during the 1973-1975 recession and other information. Wikipedia: From 1973-75 the Dow lost 45% of it's value, real GDP growth slowed to -2.1% and inflation (CPI) jumped from 3.4% in 1972 to 12.3% in 1974 due to oil embargo, USD devaluation etc. With the S&P, oil and other commodities on the rise and US Treasuries being dumped lets hope it is forecasting strong growth with stable prices going forward w/ I guess the Gov picking up the employment tab (2)? Plus is China trying to bring down the price of oil by showing their reserves (WSJ 1, 2). Keep an eye on crude.


S&P 500 1971-1976 (Bigcharts.com)
This is also interesting. Analysts called 1973 wrong (Time Magazine article on January 8, 1973, mentions economist Alan Greenspan).

"Most Wall Street analysts are convinced that the market will continue to climb smartly in 1973. Brokers looking for a marked increase in trading volume see signs that small investors are beginning to overcome fears instilled by the Wall Street slide of 1970 and return to the market. Investment from abroad is also on the rise. Economist Alan Greenspan estimates that foreigners put $1.6 billion into American securities last year and will buy $3 billion worth in 1973."

A Gilt-Edged Year for the Stock Market (TIME - January 8, 1973)

Other news links I found about the 1973-1975 recession:

David Rosenberg: Recession to Be Worst Since 1970s (WSJ Blog)

Recession 1973 vs. 2008 (Jack B. Walters)

The Recession of 1973-75 in the U.S. (applet-magic.com)

1973–1974 stock market crash (Wikipedia)