US Federal Reserve trying to re inflate assets through easy credit and low interest rates which in turn push the stock market higher via a variety of mechanisms, such as company's buying their own shares with low credit and then retiring the stock.
This monetary driven stock market although a welcome thing as it keeps the economy moving, also has the effect of minimizing the invisible hand of the free market, and misallocating capital. The bubble being created by this monetary policy is not big enough to create escape velocity from the forces of deflation and contraction over the long haul . Eventually other policy measures will have to be instituted.
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