Your argument is flawed Um those were tech stocks which were grossly overvalued at the time. Industrial stocks and energy stocks fared well and have made historic highs in the past few years. If you bought qqqq at the very top and sold in October 2002 you lost 4/5 of your money ...but you would have to be really unlucky to do that. If you bought QQQQ in 1999 and held on till today you would be about break even.
dubai is melting and doha is following, which asian tiger ain't going to be no more? who cares about US housing starts, all the money is going the arabs way with high oil prices and asians pegging to the yuan