We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different. ↗
I was very much a product of the public-school system. There was only one other kid in my class who had parents not involved in the stock market or law. ↗
You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets. ↗
In addition to a soaring stock market, 6.6 million jobs have been created since tax relief measures went into effect in 2003. Our deficit situation has also improved as tax revenues have increased at double-digit rates over the past two years. ↗
You could have another downgrade. You could certainly have a stock market reaction that would be negative. And, I think nobody who looks at it objectively would want to happen. ↗