I’m not convinced either. If they extended the data out a couple more decades, with the same pattern, maybe I’d reconsider.

The pattern in that particular case really coincided with the threat of HillaryCare and it’s aftereffects.

When Hillary threatened to thrown her monkey wrench into healthcare, the whole country stopped hiring. Why bring on new personnel if Hillary is going to socialize everybody next year, or whatever she might do? The whole point was…..uncertainty. So no one hired.

Hardest hit were hospital-based specialties. You can’t just set up on your own. So when people saw what the anesthesiologists, radiologists, etc., were going through, they went into primary care.

So…..I dunno. I acknowledge the pattern as shown in the table cited, but I associate it with Hillary (as in, what she was doing at the time). When HillaryCare failed you still had the problem of absorbing the backlog of docs who went into fellowships and all that when they weren’t hired.

The whole problem started to fade out in the late 1990′s, and by 2000-2001 you started to see the seller’s market again.

All this was coincidental with the Dow, but not cause and effect.