because markets have been effectively decoupled and insulated from reality for a while now. We never left quantitative easing from 2008 (the only attempt to do

because markets have been effectively decoupled and insulated from reality for a while now. We never left quantitative easing from 2008 (the only attempt to do so tanked the market 800 points) and the fed's buyback --despite being signaled to stop soon-- doesnt seem to be stopping anytime soon on fear of the exact same type of flash-crash. car companies can and do issue buybacks to bolster stock prices, and since interest on their debt is practically zero (or actually zero in many cases) theres no pressure from shareholders to do anything. the fed seems content to ride out what they believe is short-term inflation as a tax on wealth, in lieu of blowing up the credit market with interest rate hikes. the real problems will begin if inflation begins to rise uncontrollably due to covid this winter and further employment stagnation. I believe this inflation will continue to rise. the US is ill equipped for covid even in 2021, and no matter the wage hikes, employees seem to be firmly against going back to whatever it was that constituted "work" for them in the past without more meaningful reforms (healthcare, pto, etc...)