I would just like to point out the fact that the S&P 500 is almost four times higher capitalized than it was a decade ago. There are three obvious reasons for this that come to my mind:

* There has been massive asset inflation.

* The market is in a speculative bubble.

* The 500 largest American companies really are ~4 times more valuable than they were 10 years ago.

Even with #3, the best case scenario, that alone should be setting off major alarm bells, because their material contribution to society hasn't increased fourfold, so that increased valuation must be coming from somewhere, that is to say, control over society more generally.