Figure 25-1 on page 644 shows the relationship between estimated real rates and nominal rates forthe United States. Go to www.martincapital.com  and click on charts and data and then o nominal versus real market rates to find data showing the spread between real rates and nominal rates. Discuss the current spread difference compared to that shown most recently in Figure 25-1. What are the implications of this change?

 Figure 25-1.

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Annual Interest Rate (%) 16 12 8 4 O -4 -8 Great Depression Nominal Interest Rate 1932 Do 1933 Estimated Real Interest Rate 1934 1940 wh 1950 1960 1970 1980 1990 2000 2005 2010