The thread at this link reports on one of the more surprising findings that JWR1945 has put forward in the research he posts to the SWR Research Group board (at NoFeeBoards.com)
http://www.nofeeboards.com/boards/viewtopic.php?t=2234
JWR1945: "Look back into the years just before the twentieth century. Commercial paper portfolios by themselves supported inflation matched withdrawal rates in excess of 6%.... Commercial paper seems to have gotten a bum rap. It has done quite well except for retirements that were started during the depression."
http://www.nofeeboards.com/boards/viewtopic.php?t=2234
JWR1945: "Look back into the years just before the twentieth century. Commercial paper portfolios by themselves supported inflation matched withdrawal rates in excess of 6%.... Commercial paper seems to have gotten a bum rap. It has done quite well except for retirements that were started during the depression."