When you are inject 3-5 trillion dollars into the economy over the span of months, it takes a while for reality to catch up.

idk, I read an analysis recently that retail investors in funds like the S&P500 are breaking how the stock market is "supposed" to work since people keep pumping the same money every month for retirement into the same 500 companies (or whatever an index is funding) without consequence to their actions, so they're never punished. Line goes up. The purchasing power of the masses outweighs the old brokerage class that decided which companies succeeded based on "real merits".

M2 is only up $1T in 7 months or am I missing something?