I was poking around with the time machine again last night and I was able to determine that there has been some unauthorized meddling on the contraption. Every time the apparatus gets to working pretty good and building up some acceleration something happens causing the propulsion thrusters to reverse into the retro mode and slow the thing down. After analyzing the electronic servometer, I was able to determine that the controls had been reversed by a remote control bought at Radio Shack and operated out of the Federal Reserve headquarters in Washington, D.C.
Apparently Ben and the Feds don't want to acompany us back to 1974 and they are willing to keep throwing an occasional $200,000,000,000 at the banks to keep us from making the trip.
I will either have to develop an electronic device to jam the Feds remote or find some other way to get through the blizzard of money that they are flooding the atmosphere with.
I can not make a reliable prediction when we will get back to 1974 when I have to fight with an evil empire like the Fed. This is the moral equivalent of economic war.
The time machine is in operation today. After using the time machine for an extended period of time, I have become accustomed to its fluctations. It generally follows an upward or downward trend but fluctuates day to day with a sawtooth pattern.
Today, it became apparent that the trend is aiming down at what appears to be an accelerated trend. As to where we are in calendar time, I would estimate that we are approaching 2003. That is an approximation. However, it appears that we may be picking up speed at a logarithmic scale. The real estate bubble has been definitely pierced but another bubble appears to be forming in commodities as people try to protect themselves from the depredations of the Fed. If the commodity bubble increases at a fast enough pace, the time machine will probably increase the rate at which the real estate and stock market recede into the past. The commodity bubble will probably attract dollars from the stock market and the real estate market with magnetic force.
As commodities increase, the other markets will probably contract. Dollars will move from one market to another but the Fed is determined to see that the total quantity of dollars only increases and never decreases as they push inflation relentlessly higher. As my hero Milton Friedman said, "Inflation is always and everywhere a monetary phenomenon". Ben Bernanke and the Fed are the agents of inflation.
I like your logic, but I am skeptical that it will be of use in this case. In my time machine, the accepted notion of time can be warped and it does not necessarily correlate to stock prices. My ultimate determination of when we have arrived in 1974 will be when stock prices have reached the bargain levels last seen in 1974.
I am thinking of trying to start a project to exhume Richard Nixon and Spiro Agnew and have them brought back to life so that they can ring the opening bell at the NYSE in order that everyone could know just where we are in the stock-time continuum. We could tell the doubting public that Dick and Spiro never really died, they were just hibernating with the polar bear.
Elvis may also still be alive and he may come back into the building.
As we hurtle deeper into the pre-Internet era, I smell with nostalgia the dust on library filing cabinet microfiche SEC filings!
Since we are moving backward through time, should you roll over your T-Bills to have them mature at the best times to buy? For example, a maturity of -10.25 years from today would have your funds freed up just in time for 1987's "Black Monday."