I think the stock market was much more over valued back in 1987 than it is today. PE to growth rations today are still relatively low. Even Warren Buffet is saying the market is still fairly valued. Not that I respect Warren Buffet that much but he is normally the first to rant about over valued conditions and he is not doing that now. Do you think Obama has him in the bag so much that he would lie for his bud? I would not go that far. Besides. Obama can't fire Buffet, unlike the others who talk about Obama and then find themselves without a job. So I tend to believe him more.