To reply to your colorful edit, on average corporate profits are not much higher (especially factoring in inflation). However, stocks valuations have certainly

To reply to your colorful edit, on average corporate profits are not much higher (especially factoring in inflation). However, stocks valuations have certainly been on a rampage. This is specifically related to the large amounts of cash people have had on hand - just like more dollars chasing after less juice, people have taken their vacation budgets and stuck them in the stock market, driving up share prices across the board.