/biz/ - Business & Finance

>>20867406
Okay, so quick preliminary math:

320m people in the US.
312m use the internet.
We'll assume everyone has $5k and a gambling problem. That's $1.56tn. You and I know that's totally unrealistic.

The Stimulus bill the government passed was $6tn, granted, directly from the Fed, most of that was debt instruments. The Treasury can do whatsoever they please though, including the purchase of equities. 401k inflows are another continuous consideration. If you're attending to the S&P you're also looking at the top performing, most heavily weighted companies in the index. A good lot of them are still hovering around March lows, this includes the vast majority of the financial sector. You're watching the weighted movement to FAGMAN as a hedge prop up both the NASDAQ and the S&P, you're not watching inflation. Of course there are plenty of PnDs, with all the new investors that aren't privy to such things. But to assume that they're driving the whole market up is retarded.