To see the Excel Spreadsheet photo you have to magnify it all the way out (on Chrome at least).
$SPX $SPY $TLT $TNX #Inflation #Stagflation We are not there yet, but the 1970's model for high inflation while GDP is slowing reveals some key findings. In 1972, which was the start of the rise in CPI from 3.3% Sept 1972 to 12.2% Dec. 1974, the real SP500 Index return was +14.99% (inflation was just starting to take off in Oct 1972). The worst stock market REAL returns during this inflation were 1973 (-19.29%) and 1974 (-33.28%). In that period $TNX went from 6.42% to 7.64%, so it rose. Real 10 Year Treasury Returns from 1972-74 were -0.44%,-2.37%, and -8.16%. Investors still lost money in the 10 Year Treasury in real terms during this period of inflation to the tune of -1.31%. Everything is relative to inflation, so cash with zero return did worse than the 10 Year Treasury. The chart shows REAL returns after inflation is subtracted.
View original message