Thanks, John. Hard to make a lot from that chart. The latter to me shows a longer, sustained up phase recently, more managed looking than elsewhere except where it spiked up and then down and then back up. For sheer area in highly positive territory, it seems the most significant though the 90s mania.
But as ggersh says, the Nas bubble years in the 90s probably look even more bullish than recent history.
What makes the recent era significant, to me, is that you'd think it was one of the most powerful periods in our history, economically, and you'd never know that millions lost their jobs, trillions got sucked into a black hole at the Fed, and State revenues collapsed, foreclosures smashed all records, bankruptcies went through the roof, pay stagnated or went down, food and energy inflation skyrocketed, housing prices collapsed as never before.
In short, a freakin' miracle of money printing and intervention. |
