Is It 1999? 2007? Or Both? - Zerohedge

In 1999:

• Fed was hiking rates as worries about inflationary pressures were present.
• Economic growth was improving 
• Interest and inflation rates were rising
• Earnings were rising through the use of “new metrics,” share buybacks and an M&A spree. (Who can forget the market greats of Enron, Worldcom & Global Crossing)
• Margin-debt / leverage was at the highest level on record. 
• Stock market was beginning to go parabolic as exuberance exploded in a “can’t lose market.”
• Speculative asset of choice: Dot.com stocks

In 2007:

• Fed was hiking rates as worries about inflationary pressures were present.
• Economic growth was improving 
• Interest and inflation rates were rising
• Debt and leverage provided a massive “buying” binge in real estate creating a “wealth effect” for consumers and high-valuations were justified because of the “Goldilocks economy.” 
• Margin-debt / leverage was at the highest level on record. 
• Stock market was beginning to go parabolic as exuberance exploded in a “can’t lose market.”
• Speculative asset of choice: Real Estate

In 2017:

• Fed was hiking rates as worries about inflationary pressures were present.
• Economic growth is improving because of 3-hurricanes and 2-wild fires.
• Interest and inflation rates are expected to rise
• Earnings were rising through the use of “new metrics,” share buybacks and an M&A spree. 
• Margin-debt / leverage is at the highest level on record. 
• Stock market was beginning to go parabolic as exuberance exploded in a “can’t lose market.”
• Speculative asset of choice: Bitcoin

Fonte: Is It 1999? 2007? Or Both? - Zerohedge