Wealth Without a Job: The Entrepreneur's Guide to Freedom and Security Beyond the 9 to 5 Lifestyle

performance in line with their expectations would not en-

tirely eliminate currently large margins of unemployed la-

bor and other resources until perhaps the latter part of

2005 or even later,” according to minutes of the Federal

Open Market Committee’s Oct. 28 meeting.

Copyright © 2003 by Associated Press. Reprinted with permis-

sion of the Associated Press

This article appeared on page 3 of the Business Section of the

Charlotte Observeron December 12, 2003. That same day the front

page carried a much longer article about the positive outlook for

North Carolina furniture companies in 2004.

The U.S. Stock Market—Psychology and Prognosis

Starting in the mid-1980s, a combination of events contributed to a

pronounced and sustained increase in the value of equity shares

traded in the U.S. stock market. (See Figure 2.2.) Figure 2.2 shows

the monthly closing price of the Dow Jones Industrial Average

(DJIA) from 1965 to 2003.

22 The Old Methods No Longer Work in Today’s Economy

0

2000

4000

6000

8000

10 000

12 000

14 000

Sep -65Oc t-66No v-67De c-68Ja n-70Fe b-7 1Mar-7 2A pr-73May -74Ju n-75Ju l-76Aug -77Sep -78Oc t-79No v-80De c-81Ja n-83Fe b-8 4Mar-8 5A pr-86May -87Ju n-88Ju l-89Aug -90Sep -91Oc t-92No v-93De c-94Ja n-96Fe b-9 7Mar-9 8A pr-99May -00Ju n-01Ju l-02Aug -03

FIGURE 2.2 Dow Jones Industrial Average 1965 to 2003

Source:Adapted from data from Yahoo.com.