I think prices are high b/c retail investors are being taken for a ride and have no other recourse. A ton of cash has been injected into the system. People are

I think prices are high b/c retail investors are being taken for a ride and have no other recourse. A ton of cash has been injected into the system. People are rightly concerned about inflation. What do they do? Bonds aren't a good investment. Real estate will be affected by unemployment, so that's not an option. No one gives a crap about gold any more. Plus retirement funds carry insane penalties. It's not like pulling that stuff out is an easy decision.