I&#x27;m going to withhold my judgment on the matter until after the next market crash.
I think it&#x27;s impossible to judge the value of anything in this messed up 0%-interest economy.
Crazy money is going around and inflating not just valuations, but revenue, profit margins, etc.<p>Everyone is looking at Price&#x2F;Earnings (P&#x2F;E) ratios (which are currently quite bad, but not horrible) and are completely ignoring the fact that earnings themselves might be inflated by
the low interest environment. Maybe if interest rates were higher, companies wouldn&#x27;t spend anywhere near as much on Facebook advertising.<p>With that said, I think the current economic environment is more like &#x27;froth&#x27; than a &#x27;bubble&#x27;.
A bubble can only get so big before it pops - Froth can keep building up to a considerable volume before it starts to deflate.<p>Economy is a bit like ecology - If you raise the temperature (interest rates) by 5 degrees (5%), you could end up wiping out many species (companies) because of their complex interdependencies.