Yep exactly. This is also why the "GDP vs stock market cap" graphs for different countries don't really make that much sense - or at least, they portray differe

Yep exactly. This is also why the "GDP vs stock market cap" graphs for different countries don't really make that much sense - or at least, they portray different things than they are designed to portray. It is definitely true that the US market cap has become "decoupled" from its current economic output, but as you say, that is a (rationalised) prediction about the state of affairs in the next year or three, it's not "oh no everything is cer-aazy!"