Quote:
Originally Posted by Jim in CT
Sorry, obviously the market also needs people out spending money, that's a given. That's all that's missing right now, and it's not missing because of anything that Trump or Obama did or didn't do.
My other point is that our stock market was not insanely overpriced when the DJIA was at 29,000. All you have to do, is look at the P/E ratios or any other valuation. Not saying it was undervalued, but when the DJIA was at its peak, Warren Buffet said he thought the S&P 500 was a terrific bet if you had 5-10 years time. But what does he know?
The tech bubble was irrational when it burst. The housing bubble was irrational when it burst. Our economy, in a macro sense, was not an irrational bubble waiting to burst when this hit. Anyone who says otherwise, is lying because they have a political agenda. It was a very, very strong and robust economy.
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There are a number of people who believe this market has all kinds of issues...
Overvaluation
Corporate debt bubble about to burst like the private mortgage bubble did
Etc
It’s really hard to take a look at what the market has done the past 4 years and say there wasn’t an inflated nature to it. There was nothing gradual about the journey to the level we just crashed from
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