1)The Japanse have a much stronger economy from a fundemental perspective…they produce many things the world buys.
2)Inflation has been huge since 2002. So if you took that into consideration, the DOW is probably way down with a lot more to go. P/E of 10 to 12 AFTER adusting for the crap earnings were about to see!
3)Unemployment, as measured by the BLS, is highly inaccurate. I would guesstimate that it’s about 10% in CA right now.
4)The NASD topped in 2001 at about 5200, and in 2001 US$. Do the math on that one!
I think we’ll be lucky to see an “L” shape play out.
