[cjhanks]

I don't know if that's quite right. From what I understood, one large cause in the inflation of US stocks has been from the inflow of foreign capital. Much of that capital is essentially a blind investment into ETF's.. I forget the numbers, something like 8% of total NYSE value and 30% of all trade volume. Those investments are essentially saying, "I don't really care what you do as long as you're doing it in US Dollars". They are certainly not investments evaluating the financials of specific companies.

That is a problem for the US and the World alike. A down-turn in the US economy which affected stock prices would cascade and cause an evaporation of money world wide overnight.