Portrait of a permanent stonk market collapse: the Nikkei 225 It hit 39,000 back in 1989. By 2002, it was back at 7000, an 81% loss. Even 40 years later, it has never regained its value. Lions remember it being in the 20,000 range, thinking it was all due to the exchange rate, yet here we are with only a distant memory of when the dow 30 was last under 20,000. Despite exchange rate differences, it too peaked in the high 30's. The nikkei is considered the most volatile of all indexes. Its rise since 2010 is from the central bank officially buying stonks. The lion kingdom has observed the dow 30 correlating exactly with the fed balance sheet, but the official buying of stonks by the fed has never been officially disclosed. The fed says its balance sheet reduction will end in the next 2 years, probably around a 7 handle. That would correlate with a 28 handle on your dow meter. The lion kingdom thinks they would be lucky to get it below ...