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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: Real Man who wrote (76342)12/21/2006 2:12:19 PM
From: Rarebird  Read Replies (1) | Respond to of 110194
 
>> Cause it is the Fed's Fault<<

No, it was primarily human nature.... You could have made a similar case for the stock market being overvalued in late 1996 -- in fact, Alan Greenspan did so with his famous "Irrational Exuberance" label. That didn't stop the market from continuing its excursion into the stratosphere for three more years, then dropping 80% of its tech value in the next three.