I think in the midst of all this claptrap, a few points should be worth noting: * The DOW is made up of 30 Blue Chip companies...unless they are all hiding horrendous accounting frauds, it won't tank. * The best US Index is the Wilshire 5000...it's the one Greenspan follows (as do I). * Sure there's a bear market & selloffs...but shares are still trading......someone's buying. The real doom/gloom is when you have a genuine CRASH.....that is where buyers completely dry up, & no-one can sell shares at any price (it happened in 1929 and 1987). If THAT happens, then I'll worry! * P/Es are historically 15+ Inflation Rate. Work it out for yourself. US is overvalued, but remember.....they are a different CULTURE.....Americans are the most Individualistic people in the world...they are not bought up on P/Es, but growth & expansion of a company. Comparing Argentina/Brazil/Japan/Australia to the US is a complete waste of time. When you talk of Global markets, you must factor in the ORGANISATIONAL CULTURE of a country (eg: Japanese & US Corporate Culture is entirely different). The doom/gloom will pass.....hopefully something will be learnt (tho I doubt it). Read Trevor Sykes's Books on this subject (the booms & busts in Australia)......history does repeat itself. TRUBEAR
