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Wrote about the 1930s. He called them the turbulent years. The years of militancy and organizing we saw. These years were equally important to shaping 20th century working america, but in a different way. They were not years of upheaval, organization, and progress, so much as a big turnabout. A way in which the working american class took a turn to a different stage in its existence. We could say that from the 1930s to the 1970s was an experience of unbroken promise and expanding rights for workers. In the years between 1968 and 1988, a lot of that turned around. So, turnabout years. I want to start with three stories that help locate what is going on in this period, and talk about whats going on with the economy. Talking about publicsector workers in the period, what they faced, and then conclude with some barometers of whats happening to workingclass america by the end of this period. To begin, let me start with three stories. I am going to locate these in 1977. Roughly about halfway ....
Closely. The treasury yields are probably the more important story were watching this morning. Lets take a look at that. Youll see the tenyear is yielding 1. 067 . Mike santoli point the twoyear at 0. 73 right now. Its been cut in half since valentines day. I think a lot of the push and pull of futures from when they opened last evening, are we going to get a surprise rate cut . Weve had Central Banks around the world comment on that. Its been stunning considering bond yields were already very, very compressed coming into this weekend and now weve just stretched the new lows. At one point 0. 69 , that still stuns me for the tenyear. Weve been continuing to watch these numbers drop rapidly this is the story people will watch closely. We should point out, stocks in shanghai surged overnight on speculation that authorities will stimulate the economy soon. As mike mentioned, theres talk of potential coordinated central bank move. Thats ....