alt Hacker News> The US stock market has nearly tripled since then. Literally the best period of stock growth in history.
The only thing I meant to point out was that a very high stock price by itself is no guarantee that there isn't a crisis around the corner. We plugged a lot of holes after 2008 and then reversed a lot of those fixes, I hear retail investors talking about their stocks at birthday parties again. Deja vu... of course this time it will be different. Or not. Let's just say that with the proverbial bull in the earthenware goods store on the loose if we only end up with another financial crisis that might actually not be so bad.
I actually calculated wrong. It went up 7.5x, not 3x.
In the roaring twenties stockbrokers allowed clients 10:1 margin. Investors were not as well-informed as they are today. There was no deposit insurance.
The SEC wasn't nearly as powerful as it was in 2024 and there was way more shady shit going on. In that respect, and the repeal of Glass-Steagall we're reverting to the pre-depression era.