Yes, indeed. Let's look.
Gee, what came next? A FORTY PERCENT loss over the next 2-1/2 years!
Notice how the 1939 is trumpeted loudly, but what's not said is that this was a failed breakout from the 1937/1938 timeframe.
Why is this so important? That's not mentioned either. Anywhere.
There were in fact two depressions in the 1930s. The first one is the one you read about in the history books - that began with the collapse of the stock market in 1929.
The second was a Depression that began in 1937, when despite all the claims that FDR "saved" the nation and the economy with his policies, IN FACT THERE WAS A DEPRESSION INSIDE THE DEPRESSION!
In 1939 the economy was allegedly in a "recovery" from that second downturn, just as allegedly in 2010 we are in the "recovery" from the second downturn after 2000.
And just as in 1939, we had a furious rally in September, while the signs of serious economic weakness were all around us. Claims numbers that people cheer, but in this case they show three quarters of a million people losing ALL INCOME while coming off the rolls. Trucking data that is showing a monstrous slowdown when we should be seeing serious increases in volume for holiday stocking. Massive, ridiculous levels of commodity inflation - double-digit numbers virtually everywhere just within the last month - oil, wheat, soy, corn, oats - you name it, it's there. Real purchasing power that has in fact declined over the last decade, and shows no indication of having turned. And trade distortions that our government attempts to address with weak-kneed BS (e.g. "Smoot-Hawley") instead of actual addressing of the problem - and after more than a decade of intentional "head in the sand" views that led to the distortions in the first place.
But heh, for today it's "Bubbles Away."
I can't say I'm surprised a bit by the comparisons to 1939, and you can bet that if and when that outcome is realized the media will say "we warned you" by making the comparison - even though they didn't, and are running a literal parade of people claiming that now, after the move has happened, is a great time to buy.
Notice that while they're doing so they're NOT presenting the above chart so you understand the RISK you're taking by getting involved up here.