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S&P was about the same, large decline in real dollars over that time.

I wish we’d stop talking about the Dow. It isn’t useful.

Yes, but also, stock correlations are so high that it's not as big of a difference as you might think.[1]

Yes it is, the Dow is essentially made up of private public partnerships. A good proxy for government spend

Not just that, but weighed by their nominal price which is insane.