There's a historical basis of this in what happened in the textile industry in the early part of the 20th century.
From a historical basis, the G-8 industrialized countries have not intervened in the foreign exchange markets throughout the economic crisis, making intervention impractical and not politically feasible.
Not necessarily so, warns Shiller, who says that while housing is normalizing, the uptrend in prices is not particularly big on a historical basis and underlying indicators of economic health are not overwhelming.
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While home prices still look cheap on a historical basis, "the trouble is that that impression is almost entirely the function of low mortgage rates, " said Stan Humphries, chief economist at Zillow Inc.
Only a few places, such as Yorkshire, have some historical basis for a claim to regionhood.
Either can be calculated on a historical or a prospective basis.
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This is a unique response to a rate action by the ECB that cut interest rates to a historical low at 1%, a 25 basis-point drop.
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He notes that on a historical price-earnings ratio basis, the stock market is now undervalued and there is an abundance of money still sitting in fixed income funds.
On a price-to-cash earnings basis this stock has historical traded for between a 21.6x and 35.4x multiple, and the current multiple is near the high end at 34x.
As with UBS, the investigation of Credit Suisse concerns historical private banking services provided on a cross-border basis to U.S. persons.
These often form the basis for a McMenamin restoration process that turns ramshackle real estate into historical theme parks.
But to get the trade-off between 10-year government bond, not in America, but on a global basis, and the inverse of the PE or the earnings yield back to historical norms, long-term interest rates would have to fully double from here globally.
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