“We are putting fuel on the fire here potentially, because nothing has actually happened, everybody is acting like it is already happening,” said Richard Bernstein, chief executive officer of Richard Bernstein Advisors in New York.
He is absolutely correct. This is all just hope and optimism charging the market. Take the stock market away and look at the fundamentals. Price to earnings are in fantasy land, as well as corporate stock buybacks. Instead of actually investing in real capital goods, they choose to not buy, but buoy their own equity value.