Observer wrote:
A. That is not the definition of "This time is different." You don't make the rules.
Correction: You are wrong, the reference is to Rogoff and Reinhardt's work:
http://www.goodreads.com/book/show/6372440-this-time-is-different
B. If valuation doesn't affect price, as you have agreed, then how does it matter?
Correction: Price is a component of valuation. A price that is not supported by cash flow is overvaluation.
C. This is a message board open to all. No one gets to tell anyone to "shut up." Again, you don't make the rules.
Correction: You made unsubstantiated claims and were wrong on "A" and "B," so you should shut up.