My point being that there is an alternative interpretation to "stock market bubble".
Some people call it "Crashing Up" - the dollar losing value and the stocks are the worth the same relative value.
There's also the phenomena of people who just "Buy the S&P" using an index, over 40% is held in this way, and there is a mechanism for prices going to infinity or zero because non-Index holders know the buys have to buy no matter the price, so make no match offers to sell. And when people cash out, non-Index buyers know you have to sell no matter the price, so don't match sell offers.
My point being that there is an alternative interpretation to "stock market bubble".
Some people call it "Crashing Up" - the dollar losing value and the stocks are the worth the same relative value.
There's also the phenomena of people who just "Buy the S&P" using an index, over 40% is held in this way, and there is a mechanism for prices going to infinity or zero because non-Index holders know the buys have to buy no matter the price, so make no match offers to sell. And when people cash out, non-Index buyers know you have to sell no matter the price, so don't match sell offers.
I don't really have enough breadth. I just watch George Gammon https://www.georgegammon.com/ on YouTube