Retired IT guy, all-around nuisance

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Joined 1 year ago
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Cake day: June 12th, 2023

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  • Understood. Whether or not we are replicating economic conditions from 1929 is another story entirely. Other than AI, there really isn’t too much of a stock market bubble. The S&P 500 P/E ratio is lower than pre-pandemic and the Buffett indicator(US stock market value divided by GDP) is still well within a safe range. 1929 was pre-globalization, pre-SEC and there were next to no banking regulations at the time. The Internet bubble of 2000 with its insane speculation more closely resembled the crash of 29 than does the current market conditions. The 2008 housing debacle was primarily too much leveraged mortgage debt.

    I’m not a student of economics and haven’t studied much of it but I have owned stocks for quite a few years and have a basic understanding of how money works.