I'm sure the bottom talk in 1929 was just as prolific and just as premature. I think those folks have their hearts in the right place, just not their bottoms. I'm sure many people calling the bottom have never actually seen one. And look at Greenspan, our top banker, who can't even call a bubble when it's the size of Jupiter (where boys go...).
I did a little digging and found these actual New York Times headlines. And I thought all that talk this time was original! <g>
Wednesday, July 3, 1929, Page 31, Col. 5
SEES STOCK RISE JUSTIFIED
Sunday, October 13, 1929, II, Page 7, Col. 2
STOCK PRICES WILL STAY AT HIGH LEVEL FOR YEARS TO COME, SAYS OHIO ECONOMIST
Wednesday, October 16, 1929, Page 8, Col. 4
FISHER SEES STOCKS PERMANENTLY HIGH
Yale Economist Tells Purchasing Agents Increased Earnings Justify Rise
Tuesday, October 22, 1929, Page 24, Col. 1
FISHER SAYS PRICES OF STOCKS ARE LOW
[just change the name from Fisher to Cohen, wait a few years, and voila, you are almost ready for the retrospective to 2000-01's headlines]
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