It's inflation, and it's an important lesson as to the dynamics of financial markets in the context of a high debt regime.

Regardless of what officials say, the only way out of the looming debt crisis in developed nations is to turn on the money printers and inflate the debt away. That's literally the only way out.

Next look at how concentrated inflation gains become in financial assets. Corporate valuations are the first thing to inflate (wages last, and at a much lower rate especially as you move down the income ladder).

Finally recognize that the concentration of wealth in the stock market has made the market itself too big to fail, meaning central bank intervention whenever things get too gruesome. Enter moral hazard at the government backstopped casino.

All of this leads to one conclusion: put all of your money in the stock market. Literally just buy the S&P, ideally a 2x levered S&P index ETF given historical studies of optimal leverage, and just let it ride...