The covid response of printing trillions of dollars and other currencies around the world meant that there was way more money and it had to end up somewhere. T

The covid response of printing trillions of dollars and other currencies around the world meant that there was way more money and it had to end up somewhere. There's just way more money to invest than there are productive companies to invest in. So you get crazy P/E ratios in the best bets available. The "fix" is to inflate that money away (or maybe to tax it and pay down deficits?) but it's not an easy monetary policy or a familiar one.