Good points except I would differ on why the stock market has risen. It is quite simple actually. The fed has artificially forced rates so low there is nowhere else for money to go. One can invest in stocks and get dividends almost as high as treasury notes plus there is potential for growth.
Some truth but too simple. The Fed buys securities from banks who create them by churning mortgages, etc. That is a direct cash spigot from the Fed to the banks (one of many).