The Goldman analyst notes that the stocks are trading at about 10x normalized EPS, but in the last cycle dropped to 4x-7x.
At 7.9%, the euro zone's unemployment rate is roughly where it was at the peak of the last cycle, in late 2000.
Last cycle, from late 2002 to 2007, was consumer electronics (iPods, Blackberries, GPS, Googling, for example), industrial infrastructure (roads, bridges, ships, airplanes, cranes) and natural resources.
The high yield spread versus Treasuries is 162 basis points (bp) wider than it was when the economy was already one month into recession in the last cycle.
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"If you look at the results last cycle it's hard to argue that being early or being big was much of an advantage, " says Alex Conant, an adviser to former Minnesota Gov. Tim Pawlenty.
During the last election cycle we heard a lot about how important small business is to the economy.
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The chancellor insists that the fiscal rules had been met in the last economic cycle, which the Treasury believes ended in 2006-07.
Look for cutbacks in landlines and slower growth in wireless, but the next recession impacts should be far milder than the last business cycle.
You know, they've taken a lot of criticism for having moved too slowly in the last tightening cycle and for fueling the housing and credit bubbles.
The Programme has met considerable success and interest in the past years with more than 50 per cent increase of nominations in the last nomination cycle.
The list of leading stocks has narrowed since the last earnings cycle, and many stocks that just posted excellent earnings are having a hard time gaining traction.
Mr. MATT DORF (Consultant, Democratic National Committee): During this last election cycle, there was an orchestrated Republican campaign to turn support for Israel into a wedge issue among Jewish voters.
Wind the clock back to 1979, and no one, not a single pundit, policy wonk, or economist, forecast the economic boom that came from the last such cycle.
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The GOP knows that between the embarrassing remarks about rape made by several candidates during the last election cycle, the record 20 seats held by women in the Democratic-held Senate and the 55% of women who voted for Obama, regaining power requires a makeover.
First, the compensation increase, effective Jan. 1, 2011, is 2.5% (2% increase in minimums and 0.5% increase in pension and health contributions), significantly less than the 3.5% that was agreed to in the last negotiating cycle, which began before the economy had spiraled into recession.
Even though there's a lot of debate about when they'll start, I think many people believe, as we do, that once the Federal Reserve starts raising interest rates in this cycle, they're going to have to move quicker and raise rates faster than we saw in the last tightening cycle.
Supported by a QE II asset purchase program still alive and kicking through the end of June, we estimate that this, our current monetary inflation cycle, will show a cumulative monetary infusion of about 37% by the time QE II is over, 77% the size of the last inflation cycle .
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All three companies are selling for about half their peak prices during the last up-cycle.
Just how much longer will the downturn in this boom and bust cycle last?
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The gaming industry tends to upgrade equipment in seven year cycles. 2001 was the last full upgrade cycle.
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The number of sunspots declined substantially in the last 11 year cycle, after flattening out over the previous 20 years.
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About one-quarter of organizations have a written policy on political activities, according to a survey conducted during the last presidential election cycle by the Society for Human Resource Management, an Alexandria, Va.
Sy Harding , editor of Street Smart Report, cites that last Fed tightening cycle as an illustration of a rule of thumb he calls "Three Steps and a Stumble"--the third rate hike kills the bull.
The key questions, therefore, are two: First, how long the smartphone cycle will last?
Technology is hot, but how long this happy investment cycle will last is anyone's guess.
If consumers follow their historical pattern, the current deleveraging cycle should last another 4 to 7 years.
Unless you believe a recession is around the corner, the energy and metals cycle could last and last.
The big worry is that the airline business cycle peaked last year.
We expected the build cycle to last about 12 weeks.
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