We got the US Investors Are Loaded Up With Stocks in the morning reading list but the graph tells the story (imho). The flow of funds doesn't lie. OK, so liars quote the FofF all the time but what this says to me is that 2014 is NOT 1982 for stocks. Maybe for jobs but stocks are more like '65 or '97.
or '00 & '08...
But think about the fundamentals and identifiable issues (bubbles? contagions?) that drove the collapses in 2000 and 2008. Do those exist today?