sing began, as well as a general increase in manufacturing capacity. With residential growth expanding, construction items such as lumber, bricks, glass and nails underwent an 80 percent increase in consumption.The 1920's saw a great technological advance. Mechanical power almost completely replaced manpower in the work force and output per man-hour almost doubled between 1910-1929.At this point in the 1920's, American's believed that this soaring increase in the economy would go on forever. The United States had now become a world super power. People started investing in the stock market believing thatUsing the Dow Jones Industrial Average (DJIA) at the beginning of every year as a measure, the economy has grown in a log-linear fashion since 1897. There have been two major oscillations in the DJIA.The first major oscillation began in the early 1920s. In the period from 1924 to 1929 the DJIA rose from 100 to 300, just prior to the crash of October 1929. During the 1930's and the Great Depression, the DJIA reached a low of 42.The second major oscillation was less dramatic. There was an increase from the expected baseline of growth that began in 1958, which lasted throughout the 1960's but was followed by a dip below the baseline during the 1970's. Finally, in the 1980's, the market began to recover. The growth of the eighties took a dramatic rise above the baseline growth.There was more to the Y2K phenomenon than a computer clich that we have found to be falsely identified. Beyond computers, and beyond the stock market, there are natural cycles that all historical cultural, economic, and political systems undergo. For example, the cycle of 70 years, between 1929 and 1999, is the natural span of a human lifetime. For the most part, the people born before 1929 have now died. They are no longer part of our collective living identity. Most who were taught with the "depression mentality" are now over 40. We are not part of the "curre...
