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Though I do not live in the US, I have experienced similar rallies in Asia.
Asia had a phenomenal stock market run in 1993 which to me resembles
what NASDAQ did. From 1994 onwards it experienced several minor
rallies until the ASIAN ECONOMIC CRISIS. The governments which
had accumulated hugh debts began to falter, first, Thailand, followed by
Korea, then Indonesia and then Malaysia. Hong Kong and Singapore's
currencies were attacked by Hedge Funds but because of their hugh foreign
reserves, managed to protect their currency unlike the rest.
All this happened 5 years after the great market run which ended in Dec
1993.
The US has a gread deficit growing. That troubles me, together with a rising
unemployment rate.
Just my 2 cents view and opinion.
Regards
Kish
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