Hoover Redux

By Jayson ~ July 27th, 2005 @ 10:28 am

Yeah, I know, I know. It’s a “bubble.”

But if you actually believe it’s a *national bubble* that will crash a la the NASDAQ, circa April-December 2000, well, me thinks you’ve been reading too much Paul Krugman or perhaps listening too closely to those McGovern-era, partisan-liberal econ professors over at Haas, Tuck or Stern.

Or let me put it this way:

How many people do you know packed up in 1997-1999 and moved the spouse, the furniture, the dog, and the 2.5 kids into a tech stock???

Demand.
Supply.

Over the long haul, it’s really that simple.