[sgbuffett]

Here is another perspective ..
S&P500 current PE is 18. Average is 14 to 16, and Bear market average is about 10 to 12
Consider this.
The growth prospects are lowest in last 10 years.
Inflation is mostly dictated by Food and housing prices (including rent) and they are going nowhere but north, taking mortgage interest into consideration that is.
EU is economically torn, UK on shaky grounds
Bad debt? Yes There is plenty, just look at bad corporate bond purchases . This is similar to 2007 housing crash, this time its S&M companies with huge bad debt.
This is a 3 recessions in succession time. We are just in the first one, the simplest one that is driven by increasing interest rates.
Looking for safety? Look at 2017 prices and wait for prices to hit that point.

In 2007, thee financial crisis pulled down all markets and we went from problems to shock and crisis.

My view of the 2007 is it could have turned out different if leaders and authorities better managed the situation. So I don't see that history will repeat unless they are stupid.

The mistake made in 2007 allowing Lehman to collapse and that created the shockwaves we never saw before. If Leham was rescued and money was injected to stabilise system situation will be bad but not a disaster. It will be more like 2012 Europe crisis alot of trouble but no collapse.

For the markets tracking data across the world there is aa decoupling phenomena. Indonesia and Malaysia did much better than US maketes this year . Hong Kong and China is desyncronised from US. HK rally from March to May as US markets drop. 

Investors are too captivated by last 10yrs of US markets. Many neglected markets start to look interesting even as Europe and US sinks.