HotdogFor a long time I have argued with those who said a PE or...

Hotdog

For a long time I have argued with those who said a PE or 15 was reasonable.

My numbers may differ a little with you or Schiller but I suggested 7 or 8 was a more likely low.

Yes, I acknowledge that constant dollar or inflation adjusted dollars is a more meaningful measure of median value.

I still cling, lol, to my past experience that says that absolute numbers or ratios tend to bear fruit.

I am sure when we bottom I can conjure up a number that will boost my case, lol.

So in summary, yes I believe you are correct, but I still think there will be some serious numerical relationships that appear.