From the link: https://www.cnbc.com/2017/09/19/the-one-thing-shiller-says-is-preventing-a-1929-like-crash.html (Links to an external site.)

you can view the Nobel Prize-winning economist Robert Shiller's argument of possible stock market crash in 2017.

From the link below you can find the data of Price to earnings ratio.

https://www.multpl.com/s-p-500-pe-ratio (Links to an external site.)

http://www.econ.yale.edu/~shiller/data.htm (Links to an external site.)

Please discuss:

1. Have you noticed the increase of PE ratio in recent years? Do you think the increase of R&D expenditure contributes to the increase of PE ration?

2. Do you think high PE ratio will necessarily predict stock market crash? Why?

These are open questions. there is not correct/standard answers. Spend some time to think about it and write down your argument. 100 words will be sufficient.