The Economy Sure Looks Headed for a Fall

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It’s not just e-commerce that’s partying like it’s 1999. The stock market is doing it too:

Those looking for reason to worry don’t have to search far. There’s a potential war with North Korea and ongoing drama in Washington D.C. But stepping aside from politics, the market has tended to drop when just about everyone thinks the good times will never end. Some people think we’re hitting “peak giddiness” now. Consider these stats:

63 percent of Americans believe the stock market will be higher a year from now…This is the highest level ever recorded by the survey…60 percent of market experts are bullish and only 15 percent are bearish…The P/E ratio, a widely watched gauge of how expensive the market is, has topped 21 for the Dow…It was 20 heading into the 1987 crash.

Venture capital looks giddy. The stock market looks giddy. Housing prices look giddy. I’m cautious by nature, so maybe it’s best to ignore me. And on the positive side, we don’t have a huge debt bubble right now that could turn a recession into a great recession. But even an ordinary recession would be painful. Color me one of the worriers.

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In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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