The third post-world war II wealth bubble

C. Eugene Steuerle

Business Economics, 2019, vol. 54, issue 2, No 3, 108-113

Abstract: Abstract The United States has now experienced three major wealth bubbles since 1945. The first two peaked in 1999 and 2006, followed by crash and recession. By 2018, peaks were higher than ever, implying new risks that either this third bubble will pop, or returns on investments will fall, or some combination. This article provides data to support the wealth-bubble assertions, suggests that all three bubbles share characteristics and causes unique to a modern period since about 1990 and extending across asset markets, and faults arguments about market timing based on starting points with lower wealth valuations.

Keywords: Wealth; Bubble; Recession; Investment (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1057/s11369-019-00120-z

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