My view is that many companies in the US are over-funded because the fed stimulated the economy too much. Investors flocked to the stock market in 08, when ther

My view is that many companies in the US are over-funded because the fed stimulated the economy too much. Investors flocked to the stock market in 08, when there was no money to be made in bonds, and then the stock market got whipped up by more people joining the trend. Then it happened again when Trump got elected and investors thought republicans would be easy on businesses. All that funding is being burnt by companies to grow and compete with each other, which is why you see an overheated job market. They also inflate the value of GAFA, because these companies spend a lot in software, hardware, cloud services and ads. When interest rates go up and bond yields get better though, it's likely that investors will no longer fund companies as much as they used to (which is why I think we're starting to see a slowdown in stock prices). This slowdown in funding will cause companies to have some painful debt crunch, and start the bursting of the bubble... Anyway, just my opinion