Disliked"The Standard & Poor’s 500 stock index produced a 22-fold return with dividends reinvested, Treasuries rose 11-fold and cash in the average U.S. checking account rose at least 92 percent."Ignored
in the eighties public debt as % of gdp was in the twenties, personal saving rates were about 10%, the us had an industry, there were no hedonic price adjustments, no greater wars, no democratic president, no tarp, no maiden lane or other "assets", dow/gold ratio was below 5, so yes back then it was a bad long term investment. also i wouldn't call gold an investment, rather an insurance.
edit: trade balance
http://www.federalreserve.gov/pubs/i...92/ifdp892.htm
http://www.federalreserve.gov/pubs/i...92/figure1.gif
edit: dow/gold chart
http://www.nowandfutures.com/key_stats.html
http://www.nowandfutures.com/images/...urrent_rev.png
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