>>>>>In any event the current market is at nose bleed levels, the only question is by how much. And knowing precisely by how much does little good when trying to figure out when a mania will come to a screeching halt.<<<<
IceShark, this is true.
Still, maybe there are similarities to economic changes in Spain when the Mexican silver and gold started coming in. (Or France, when the sugar money came in, or Netherlands, when the spice money came in, or England, when the pirate money came in, or Colombia, when the cocaine money came in.) Those "structural changes" are not trivial.
I am not saying the market won't crash. I am not saying we won't go into a recession, or worse. But, IBM at 148, IMHO, is not in the same league as buying a coach and six with a tulip bulb.
CobaltBlue |
