re: Was all "growth" in the last three years fake?

The recent bull market began with a 7X Earnings ratio for the S&P500 in 1982 and ended in 2000 with over 30X earning ratio. To some degree, the growth was fake, as the fed basically emptied the pool of any opportunities for traditional savers to buy CDs, etc., by lowering interest rates to zero. As a result, grandma and grandpa traded in CDs for high yield bonds, tech stocks and everybody was forced to become a speculator or starve. Kind of insidious to push everyone into risk assets, then purposely kill risk assets.