20066222000000666AAAM2GDPGDPA06AA05A1PPICPI1GDP52GDP00-053CPIPPI44M218.9%4.816%15.5%051415,7232.563%1-4229.6%2.145029.2%32.2%30%4280.27565158:18“”3-5%GDP5.31.74CPI0.6%3.5%30.6%0.32.0%1.8%06GDP0.5%1.9%3901IMFIMFWEO1054AAA03M20479%95%126%257%335%73036vs.063-5.00.05.010.015.020.025.030.035.0036063859G5064M21116%0306A610M211ACEIC200604712ABloombergAA13GDPGDPGDPAA8A14EIUFranklinTempletonInvestments15AH9A050506A16PE1706071018STXXX05XX%XXXXXX0506XXXX3XX%08XXXEPS30PEXX%A0505061119PB-ROE06200607PE-G12A030304-0506116%062312212206EPSIBES2004106070605223.09%15063274,80014%1203A132324JPMorgan250614A05A23154GG0305S&P50045.49%GS.US113.85%257.7%162627282930vs.S&P5002003-200517GGGG312003-20053219892005012345J-03J-0501234567S-89S-91S-93S-95S-97S-99S-01S-03S-05A06A18G0613.69A2005123157.406G7.1214.67106.06%0.550.6314.76%G1502003002004916920063002006100%G2005156.624.5647.9195GGGGGGGGSTGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGG201032005002005626162020064262006652115%GGGGG2225It’snotwhatwedon’tknowthathurtsus;it’swhatweknowforsurethatjustain’tso.---MarkTwain