bubble

[Brad De Long]

>Brad De Long wrote:
>
>>NASDAQ has closed over 5000... The trailing p/e of the NASDAQ index is 388.83
>
>That is truly breathtaking.
>
>You're an economic historian, Brad; is there any precedent for this?
>
>Doug

I hesitate to say "never before"... but to my knowledge not since the 
days of the South Sea bubble...