I could see how someone in June 1989 could think this. At that point, the Nikkei was around 33,000-- nearly its all-time peak. Japan was a huge bubble and peopl

I could see how someone in June 1989 could think this. At that point, the Nikkei was around 33,000-- nearly its all-time peak. Japan was a huge bubble and people believed it was going to be the biggest economy in the world soon. Within 18 months, the index had dropped to 23,000. Today it's trading at about 9,000.