1987 style 20% crash coming, page-10

forgot the link , S&P trades at 16.3 times earnings and they call that a buy for a basket case country that cant raise enough tax money to even pay the interest on debt.

http://www.bloomberg.com/news/2013-08-13/goldman-says-s-p-500-to-rise-8-in-12-months-as-economy-expands.html

The S&P 500 trades at 16.3 times reported operating earnings, near the highest level since May 2010. The valuation is still 16 percent below the average since 1998, data compiled by Bloomberg show.