If you look at it that way, it's also hard to theorize about stocks in that modern economic wonderland "we" (they?) have created. There could be, for instance,

If you look at it that way, it's also hard to theorize about stocks in that modern economic wonderland "we" (they?) have created. There could be, for instance, a large wave of defaults on the plentiful debt created by low interest rates, which is probably bad for stock prices, or else the trend of rising P/E ratios due to a lack of safer ways to get a return on an investment could keep inflating stock prices.