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But here's the problem: that historical reversion to the mean doesn't mainly reflect some natural process of recovery, it reflects the actions of central banks, which slash interest rates when the economy is down and raise them when it's up.
We feel it strongly in the ferocious dark prints of the "Caprichos" of 1796-97, which slash at hypocritical marriage, at exploitative whores, quack doctors, grim superstition and at the torments of the Inquisition, the "black legend" that Goya loathed with the hatred of the "passionate humanist".
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He offered 2 budgets: the old austerity budget, with its vast deficit, & a "crisis budget," which slashes many programs that most citizens consider essential.
The Federal Reserve, which slashed interest rates twice within eight days, added to the feeling that the worst might be over.But not for long.
But on the key legislative issue of Reagan's presidency — the 1981 fight over his budget, which slashed taxes on the rich — O'Neill simply got rolled.
He noted that he vigorously opposed Proposition 13, which slashed property taxes, in 1978 when he was first governor, and survived that.
Woolworths, which slashed its dividend from 72c a year ago to 33c, made $1.87bn of writedowns against its failed hardware businesses, which it will be rid of by December.
But the events that have recently gone on behind the shop windows of this much-loved retailer tell a disturbing story about financial engineering, which slashed its taxes.
The claim comes as Italy fights back against "reckless" credit rating agencies which slashed its credit rating as the eurozone debt crisis exploded.
In the I-4 corridor, which slashes diagonally across the middle of the state, the campaign is counting on a booming economy to deliver swing voters.
Since then, PPG has developed a far more environmentally beneficial window named Solarban, which slashes demand for air-conditioning in warm climates.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com