You have an interesting point of view there, NYCBoy,
FWIW, I'm something like 80% - 90% in money markets/bonds and maybe 10% - 20% stocks and have been since April 2000. So I ain't a die hard stock market bull.
I'm looking at some charts. 5 years ago the S&P was at 650; the NASDAQ was at 1100.
Yes, $4 trillion has gone to money heaven since March 2000. But have people lost $4 trillion ? lol, looks to me like they've doubled their money in 5 years -- 7 years sooner than if they put their money in a bank. The story is even better if you use 1991 as the starting point.
If you don't think that 1974 was a bubble, maybe you should go back and find out the valuations/premiums placed on some of those "nifty fifty" blue chips from 1969 - 1971. They were pretty outrageous.
We have 4% - 5% unemployment, low interest rates, and no inflation. A tough combination to beat.
Yup, banks might have some near term problems -- my solution -- kill some bankers. Banks always fuck up, bankers always end up rich, and the government always bails out the banks first and makes the taxpayers foot the bill.
Maybe if we did some public executions of some bankers, maybe they'd learn not to mail out credit cards with 21% interest rates. Maybe they'd learn not to bring companies like Priceline.com public and maintain buy recommendations when the company had a market cap greater than United Airlines.
lol,
Chris |
