TRUE BORN SONS OF LIBERTY: SPX since August 2000 continues to underperform the pre-Reagan era by almost 20% in real terms, the Reagan bull market era by almost 68%

Saturday, July 5, 2025

SPX since August 2000 continues to underperform the pre-Reagan era by almost 20% in real terms, the Reagan bull market era by almost 68%

SPX 8/2000-5/2025: 7.62% per annum nominal, 4.95% per annum real (inflation rate 2.54% per annum)

SPX 1/1871-7/1982: 8.15% per annum nominal, 6.18% per annum real (inflation 1.86%)

SPX 7/1982-8/2000: 18.99% per annum nominal, 15.28% per annum real (inflation 3.22%)

We'll get the June 2025 Consumer Price Index report on Tuesday July 15th. The previous read was 2.4% yoy overall, and 2.8% yoy for the core.