This indicator hasn’t flashed this red since the dot-com bubble

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  NPR.

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  This is The Indicator from Planet Money, I'm Darian Woods.

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  And I'm Paddy Hirsch.

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  At this point, we can pretty much stipulate that the internet can be a very scary place.

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  And right now,

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  it's particularly scary

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  if you pay close attention to a certain stock market indicator that a lot of internet people are wigging out about.

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  It's called the Shiller PE ratio, and it's at its highest level since November of 1999.

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  So 1999 was a turbulent time.

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  This was the peak of an online gold rush.

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  Investors making big bets on how the internet was going to change everything.

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  in 2000.

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  And it was actually really scary.

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  You know, the market cratered.

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  Lots of companies went out of business, including the one that I was working at at the time.

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  Pretty soon after the bubble burst, I was out of work.

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  Yeah,

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  so the scars are real and because it's a bit scary and

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  because it's an indicator and because this is the indicator,

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  today we're going to look at the Schiller PE ratio.

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