19th

19th Century Prices, 21st Century Lessons

Submitted by Nicholas Colas of DataTrek Research We have some observations based on the 1919 book “A Century of Prices”. The 1800s saw structural deflation due to technological advances in manufacturing and farming. This pulled interest rates lower (as has also occurred in the last 20 years), but numerous financial crises/recessions from 1865 – 1910…