[lemma=","] [!word=bond] [□] □ □
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Corporate profits of TNCs are also rising , as are stock valuations . In contrast to the current cheery consensus , I think that the economy faces significant headwinds , the already-enormous deficits will continue to grow , interest rates have nowhere to go but up , and high stock valuations already reflect a best-case scenario for stocks , so there 's little upside and substantial downside . By some measures , the price correction on October 27 occurred after a prolonged seven year " bull " market of rising stock prices.69 In fact , market commentators sometimes measure this bull market as beginning in August 1982 , making this the longest bull market in U.S. history.70 The severity of the October 27 market decline needs to be viewed in conjunction with the apparent growing unease among some investors and market commentators over the longevity of the bull market , historically high stock valuations , and uncertainties about pending corporate earnings announcements and the future direction of interest rates . This time , the upstart is supported by thousands of volunteer programmers , hundreds of millions of dollars in venture capital , and stratospheric stock valuations . As expected , the trading stock valuation rules and the core standards governing the accounting treatment of R & D expenditure will not change .