The market was way way overvalued and is still somewhat overvalued compared to earnings. In the long term, the market is driven by earnings. The current crash is due to investor's no longer trusting the earnings that companies are reporting. The market ain't gonna bounce back anytime soon. The 90's were an anomalie and we are now back to a more normal looking stock market.
Y2K concerns were one factor that inflated the market but by far the major pumper was unrealistic expectations over what the internet would mean to business and to consumers. The world, not even the progress hungry US, could eat up technology advancement as fast as companies were claiming they would. Throw in a few hucksters and you have a mania.
Unfortunately many people who got in the market in 1999 and 2000 lost a ton of money. People are now shifting back to a more normal savings routine, most of their money being invested in their own homes. This is pretty much the way things have always worked and probably always will except for occasional manias.
But we can squabble over what will happen next forever and neither one of us will know until it happens.
The main difference between YK's and my philosophy is that I believe you worship God by showing love to others in every way you can. I believe love of neighbor is what builds up our personal bond to God. I believe neighbor is defines as all living things, not just our fellow humans. The Watchtower and many other religions complicate the matter by tying faith in God to rituals, organizations, bureaucracy and a list of rules and regulations a mile long.
I think its much simpler than that. Love your neighbor as yourself and love God, on this the prophets and the law hang, or words to that affect.
Whatever happens in the future, love is the only real refuge from trouble. Unfortunately you can't sell a lot of books if the answer is that simple.
It is mind boggling how we resist this simple and pleasurable answer to life's problems.
Joel