For those of you who are trying to get your mind around YCC and the history of the FEDs actions, this paper is exceptional:


Very interesting chart in the paper: 

S&P during that period: 

S&P Valuation: 

Industrial Production: 

After spending time talking with John Fadool, I have been trying to think through financial history. 

Here is the link to the video if you didn't catch it:

I am just spending time thinking through each decade and comparing every chart I can find. No conclusions yet, just observations.