Soros $$$
Exactly what I suspect.
Not really. The truth is quite a bit worse than that.
The Federal Reserve is intentionally devaluing the dollar, monetizing the Federal debt and holding interest rates at historically low levels. The result is a flow of investment capital into equities and commodities, driving their prices up. Declared corporate earnings are up because they are (a) employing fewer people at lower real wages and (b) choosing to bank earnings now rather than next year when tax rates on capital gains and dividends are set to skyrocket. Meanwhile, the investment banks doing most of the stock trading (on some days, 60% of market volume is attributable to five or six entities) have been allowed to maintain as assets mortgage-backed securities whose valuations are fraudulent and whose liquidity is nil.