At the Guardian, Ha-Joon Chang writes about the U.S. stock market:
The situation is even more worrying in the U.S. In March 2013, the Standard & Poor's 500 stock market index reached the highest ever level, surpassing the 2007 peak (which was higher than the peak during the dotcom boom), despite the fact that the country's per capita income had not yet recovered to its 2007 level. Since then, the index has risen about 20 percent, although the U.S. per capita income has not increased even by 2 percent during the same period. This is definitely the biggest stock market bubble in modern history.
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