Okay; I believe we have excessively printed money chasing something, in this case stocks.
Something had to inflate; whether groceries, gasoline, housing, bonds, stocks, or what have you. :-)
So what happens next? Accelerating “wealth effects” and inflation?
Because I don’t see the profit, production and productivity increases that would accompany a value-driven stock price surge.
Equities bubble, followed by debt bubble, then both bubbles pop and we have people walking around trying to exchange precious metals for the necessities of life - which will not work.