The Nasdaq last week finally hit an all-time high, surpassing the 5,000 level achieved 15 years ago in March 2000. It took much longer for the Nasdaq to hit record highs than the Dow or the S&P 500 due to the dot-com frenzy in 2000 that sent the technology-heavy Nasdaq soaring.

The Nasdaq record set off another round of predictions by the doomsayers of another imminent crash. In the past few months, we have seen dire forecasts, including one from Congressman Ron Paul. Many of the warnings are aimed at seniors who are vulnerable to irresponsible scare tactics.