Stock indices close at record highs under Biden presidency

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guys, I hate to break it you but the names you should be citing to explain this mysteriously long-lived bull stock market aren't Obama, Trump and Biden, but Bernanke, Yellen and Powell. Basically the markets have become quite addicted to the unique form of stimulus offered by central banks, and it has kept stonks rising and rising - and nobody quite knows what to make of it all, or what the consequence will be. All anybody knows is that any attempt by any administration to take down what was supposed to be a temporary buffer in response to the credit crunch has been fiercely opposed by the markets.

Like, I'm not going to predict that this is definitely going to collapse. There are plenty of chicken littles out there who have eagerly seen this stock bubble bursting every day for the past decade. All I will say is that increasingly many companies and organizations are seeing the stock market as a free money machine - a huge amount of start-ups making IPOs, stock buy-backs, over-valued companies and so on. Companies are taking on a huge amount of debt - and not even in the service of productive investment in themselves (private investment in most countries has remained stagnant), but to play the speculation game - financing mergers and acquisitions, as well as the ubiquitous stock buy-backs. And why shouldn't they? They want profit, after all; and there is far more profit in this murky finance stuff than in investing in automobiles or shoes or whatever. Why bother building a factory with your cheap debt, when you have such a lucrative alternative?