[samfisher83]

Its different than 98. We had a huge housing bubble. We had people getting no income loans. It doesn't seem the same in this case. The biggest risk is going to be the 1 trillion dollar deficit which is resulting in rising yields which makes stocks less appealing. However if you have a lot of inflation you need to put your money in some assets since the value of the dollar is going to be lower.

[anigbrowl]

Good points all, though I'm wary of debt merely having shifted into things like student loans and subprime auto loans (which have a worryingly high default rate). It's not the same by any means, but I feel the combination of an overdue correction and political uncertainty could prove a toxic one.