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“”I agree. Economics has never changed, just our knowledge about how it works has been changed, but not much recently.””

I Agree.
I have never liked the term “new economy” no matter the source.
I believe there is no new economy and any argument that there is, is not provable. Many persons will receive doctorates researching the last few years and how people ignored basic math.
One can argue that the time cycle and information excess within that cycle is contracting to the point we no longer have the time to digest all the numbers and events that directly effect the short term outlook for stocks. The long term cycles appear to be shortening, by how much is still to be determined. With this time contraction there might be a feeling of a new economy.
Anyone who believes that a company can still hold a pe of 1000, I have some ETYS to sell you.
However, why do I still feel that I can double or triple my pie in a very short period?

Dennis

JMO
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