http://finance.yahoo.com/tech-ticke...History?tickers=^dji,^gspc,^ixic,SPY,DIA,QQQQ Tech ticker says the experts got it wrong regarding the crash because the markets sold off so much. Except there was no crash. This selling is just the shakeout like in 1987 or 2002. In a year or two the dow will be much higher. We shouldn't write off the experts who were bullish a year ago. Free market capitalism is the best path to prosperity. Greenspan was right to leave rates at 1% for so long. The housing boom wasn't a bubble, and there was no financial crisis. Also I'll add: the shakeout in stocks cannot be attributed to deficit spending or deteriorating economic fundamentals. PE ratios are at record low levels. RIMM, GOOG, AAPL have PE's below 17. EWZ has a PE below 10. Material, commodity, energy stocks have PE's below 7. If fundamentals were weakening PE ratios would remain the same in spite of falling prices I am right, and so are the smart experts who were bullish back in June 2007 when the dow was at 14,000. We shouldn't overtrade this market. Instead, the prudent thing to do is to buy the dips and seek value in tech and foreign stocks. The new era isn't over. We're still in the era of prosperity, globalism, spendism, deregulation, and cheap labor. We need to widen the wealth gap even more and increase consumer debt & spending. We need to insource more labor form Mexico and outsource to India and China because American labor is too expensive. Pensions, unions, worker's compensation, nest eggs erodes S&P profits. The massive equity gains in the 80's and 90's were fueled by cheap labor, tax cuts, and deregulation, which boosted corporate profits substantially, in contrast the 60's and 70's when unions dominated and the stock market was in a funk. The fed needs to print more money and bailout more companies so the dollar falls lower and oil rises, which benefits large cap tech like AAPL, GOOG, multinationals, and energy stocks. Maybe congress needs to pass a $2 trillion stimlus and a $1 trillion TARP bill.