Will the U.S. Stock Market Rise Over the Next 18 Months?

Most of the stock market’s strong surge from 2020 to 2022 was not due to companies all of a sudden doubling their profit forecasts. Instead…

Photo taken by author, 2021

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The 120% rise in the S&P 500 over just 22 months was due to trillions and trillions of dollars of stimulus money being pumped:

• into various asset classes;
• into Wall Street;
• into keeping major corporations awash in enough cash that they did not have to immediately lay off workers;
• and just a bit — but probably not much more than a bit — into the bank accounts of individual families and workers…