I've been expecting stagflation for some time and can't figure out why the stock indicies are trending up with all of the fundamental, structural issues simmering in plain sight just like the Internet and housing bubbles. Besides 2/3rds of the economy unemployed or on the sideline, prices and interest should be ramping up in relative proportion to Treasury monetizing our debt.
Bingo! You got it... all that massive money the feds have been printing seems to be jacking up the prices of all assets (including stocks)... I believe this is what happened before the stock market crash back in '29...