The problem with that reasoning is that the stock market is NOT the economy. It’s a secondary market that is more or less necessary depending on your views. Buy

The problem with that reasoning is that the stock market is NOT the economy. It’s a secondary market that is more or less necessary depending on your views. Buybacks instead of dividends definitely have set the market in the speculation territory. Sure the US economy can not stay depressed for 20 years, but drawing a causality with stock price is not automatic and is an opinion at this point.