According to previous cycles the US economy is not quite bubblicious yet

According to previous cycles the US economy is not quite bubblicious yet. However, the bout of equity issuances and IPO's do give the indication that markets are getting hot. Russ Koesterich of Blackrock, however, points out that the usual indicia of bubbles are nowhere to be found. He points out stock valuations are no longer cheap, but they are still a long way from the peaks seen in previous cycles. Equities trade for 2.5x book value and for 16.5x trailing earnings - far below the heady highs of prior bubbles. He notes the 1987, 2000 and 2007 peaks saw price-to-earnings ratios at 23, 30 and 17.5. The price-to-book ratio, meanwhile, peaked at close to 5 in 2000 and 3 in 2007. Read more to see how this look on a chart. (VIEW LINK)