[AngrySkillzz]

The argument is not that the US savings rate pushes up the value of financial assets in the US, I'm talking about globally (i.e. the global savings glut hypothesis). Countries like China, Saudi Arabia, and Germany have significant capital account surpluses which continue to get invested in assets in the US, particularly the stock market.

[jariel]

This is a fair point. But the Fed has been playing funny money during all this time, backing dollars with garbage real-estate, so I don't think it's fair to say this is just a regular 'new normal' as in asset prices were marked properly.

'New Funny Money Normal' - maybe, but the massive Fed balance sheet first enables those with assets, not those who don't i.e. 'the rich'.