Wealthy fear 'tech bubble'

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Paul Bedard,Washington Secrets,Polls,Economy,Technology,Wall Street

Wealthy Americans fear another tech "bubble" in the stock market and nearly half the nation is worried that a burst will whack the U.S. economy, according to a new poll.

YouGov.com, polling to determine the amount of concern Americans have with the rising tech market and NASDAQ, found that those with incomes of $100,000 or more are worried the most. By two-to-one, they think there is a tech bubble in the market.

The last tech bubble burst in 2000-2001, the beginning of a big stock market crash and elimination of many internet sensations.

The poll found that 40 percent of those earning $100,000 or more believe the market is currently experiencing a tech bubble while 20 percent don’t. Some 37 percent of those earning $80,000-$100,000 also see a tech bubble growing.

Most also believe that a drop in the value of tech stocks will hurt the economy.

But, there are some bright spots in the poll, namely that most do not believe that a burst of the bubble will happen. Most people believe that tech company values will stay the same or increase a little.

Paul Bedard, the Washington Examiner's "Washington Secrets" columnist, can be contacted at pbedard@washingtonexaminer.com.