Karlgaard, Rich
November 2008
Forbes Asia;11/10/2008, Vol. 4 Issue 19, p30
The article reports how the current economic conditions in the U.S. resemble that of 1970s. The Dow Jones industrial average registered a drop of 45% similar to the current drop of 40%. The 1970 drop was also caused by high gas prices and failing conglomerates. The 1970s saw several good things happening to entrepreneurship and many inventions like microprocessors and the Internet. Much like in the 1970s taxes on income, savings and investment are expected to rise followed by inflation.


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