'Twas a Bubble,
'Twas a Babel,
'Twas babble and baubles, yet,
though in absolute dollars and inabsolute hype the great rewind might or might not fairly be called the "greatest," it hasn't yet risen/fallen to Japanese levels, or roaring '20s levels (give us a decade). Once upon a time not too long ago, don't forget, if your zaibatsu wasn't keirutsuing, you were destined for the trash heap of history, a few square feet of Tokyo real estate was more "valuable" than a block of Manhattan. Even the Nasdaq, as woeful as it looks right now, is still up about 60% from the '98 low, and around 450% from 1990. Absurd as the whole thing may have gotten (QCOM target 1000, RBAK target 752), it's still not tulips or wholly non-existent East Indian trading posts.
Don't think we'll know for a year or ten whether THIS is a coffee break on a lower floor or a ledge above Hell. |
