Until the FedReserve/Treasury Dept. stops continually inflating the money supply by paying the Bond and T-bills coming due with more Bonds and T-bills The Stock Market Price will remain so.
Bottom line stock prices are not based on financial reality any more. The only reason it is flying high is because after 8 years of the dumbass who previously lived at 1600 Pennsylvania continually doing everything in his power to destroy America's economy having a guy in the White House who just doesn't try to f*** over American Businesses is a signal to investors that things are better. Yes they are better but The Stock Market price is not based on reality.
But, isn’t the stock market always based on investor’s perceptions of the future?
Maybe you are trying to make a different point which I am missing.
But when you say the stock market is not based on reality, isn’t it based on the investor’s outlook for the future?
Aren’t stock prices based on willing buyers and sellers agreeing that these are the values of the various stocks being traded?
Aren’t both buyers and sellers satisfied that these are the values since they are executing the trades at those prices?