The NASDAQ Composite has increased exponentially since the trough of the Great Recession despite low economic growth, leading to the consensus that Fed policy has created another asset bubble. Many bull market economists dispute this view, mirroring thoughts during the height of the dot-com bubble.
Given the poor economic performance of the United States in recent years, it surprises many that the NASDAQ Composite has nearly returned to its highs during the dot-com era, which was thelongest economic expansion in US history. This regained milestone also poses another question: is the US economy currently experiencing a market bubble?
The March 1991 to March 2001 economic expansion was the longest and largest of any in United States history. US GDP grew at above 4% annually in 1997 (4.5%), 1998 (4.5%), 1999 (4.8%), and 2000 (4.1%). The NASDAQ Composite reached an intraday high of 5132.52 on 10 March 2000, before diving to1108.49…
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