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where were you in 1987?  Or in 2000-2002 when the Dow dropped from 11,500 ish to 7500 ish.  The S&P is flat from 2000 to now.  1500-->800--->1450.  

I think the main reasons the markets have done so well the last 15 years are

  1. peace dividend.  we stopped wasting so much energy on miltary gee gaws (for a while) and fear abated.

  2. China/India among others finding a way to get hundreds of millions of people doing more than scratching a living out of the soil making a dollar a day.  

  3. General increases in productivity.

the benefits have not been shared fairly though.
by HiD on Tue Mar 27th, 2007 at 05:37:27 AM EST
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