Economic Inequality

[Mikebert]

JohnX Wrote:A stock market crash like 1929?  As I recall, when we discussed this ten years ago, you ridiculed the idea.  Good to see you're coming around.  But 1987 really wasn't much of a crash.

I was in 2003.  I argued that the first bear market of the secular bear market was ended, you thought we had more to go (all the way to 4000 on the Dow).  I agreed with you that that the end of the secular bear market (which then I thought would be around 2018) we would see the single-digit P/E values you were looking for.  The link shows a graph of a hypothetical secular bear market showing a series of ordinary bull and bear market cycle embedded within it.  That figure was made in early 2003, and presents my thinking at that time.