EMILY: With the dot-com bust and the job market dwindling and the stock market going up and down like a yo-yo, everyone and his brother knows the best chance for success and financial security is not just to go to college, but to go to a top college.
The dot-com burst, or bust, was the ending of the dot-com bubble of 1997-2001, previously mentioned, involving excessive speculation in internet-based services and businesses. Higher interest rates are generally thought of as a major contributor to the dot-com burst. The stock market had a significant downturn in September 2002, the time of the events of this episode, which is why Emily is probably more alarmed about the economy than usual.
The Annotated Gilmore Girls 