Are the first two points made in the article really legitimate? Central banks decrease interest rates in crises, so I wouldn't expect lower interest rates to be

Are the first two points made in the article really legitimate? Central banks decrease interest rates in crises, so I wouldn't expect lower interest rates to be correlated with (or to be reason to increase your credence in) a bubble. And the past stock market prices alone being evidence for future prices? Doesn't that assume that the random-walk hypothesis (and the efficient-market hypothesis) are wrong?