Of course you do. The NYT must have gotten some very young reporters because they apparently don't know anything about the stock crash that began in 2000. We went flying to new highs, remember the 5000 Nasdaq? We got there about 3 months after we hit the 4000 Nasdaq. About a month later the Nasdaq was plummeting. It lost 15 percent of its value in a single day. It eventually retreated to the point where it had fallen more than 75 percent against its March 2000 peaks. Does this mean that the market will plummet today as it did during the 2000-2002 crash? Hardly, but there is nothing in this article's efforts to reassure investors that deserves to be taken seriously. The NYT should have just printed an ad saying "we don't want you to worry about your stock falling." It would have provided every bit as much information as this article.
--Dean Baker
