I've considered the possibility. Trailing earnings have recently dropped from $94 to $56. Gary Shilling a couple of weeks ago said, "I could see $40 next year". In a long severe downturn, earnings could drop to $32.. perhaps lower. Then with a P/E of perhaps 10x.... I've got an argument for Dow 500 (or whatever the '74 low was), too... which has not been triggered for reasonable consideration as of yet.
We do, that is if we keep purchasing debts from those that start wars. If you don't support the war, but you buy US bonds, then you support the war. Isn't it ironic? It will probably be some billionaire Russian who finances the wars of the future.
These very long-term charts have been popping up a lot lately, but how can they possibly be valid without adjusting for inflation? Market caps inflate right along with the dollar, so it seems like the gradient would be nowhere near as steep as if you show the chart in nominal dollars. Am I missing something?