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Message:: [QUOTE="V. Kurt Bellman, post: 2161610, member: 71723"]No, the "correct" answer to the 2008 crash would have been to take interest rates negative. Yes, "paying people" to borrow money and "invoicing them" for saving money sounds radical, and it is. Sometimes radical times require radical prescriptions. The change in the Dow in the range you selected contains three primary elements: over-selling then, real earnings growth, and over-buying now, much of it fueled by a lack of any alternatives that are poised to do well. Let's look at one DJIA stock (now, not then) - APPLE. Its price curve is straight up, after accounting for its 7:1 split. "Back in Jan 2009" it sold for a split adjusted $12.18. Now, it's $131.66 at my last glance before typing this. Its P/E is rather low, so its price is not fluff, but true growth. Their gross margins are insanely great, to coin a phrase. But, if you prefer to have it lead you to believe in financial Armageddon's imminent approach, the consequences of that thinking are all yours. Look, we went loose money while the rest of the rich world went "austerity". We won the day, and now they're following suit, just when we went neutral again. And we win again (exception for the export-reliant sector). "Austerity" is seldom the answer to a damaged economy. It is an accelerant, not a fire retardant.[/QUOTE]