The bull market in stocks is seven years old, which is ancient historically.
The market doesn't seem to care.

The stock market has hit an all-time high, so things must be great for corporations, right?
That's how its supposed to work in theory.

The stock market gets all the financial news headlines, but it's the credit markets that hold the real power. Or to put it a more colorful way:
“I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.”
- James Carville

Unicorns.
Their owners don't pick up their droppings.

It's one of the oldest rules in the book: The Public is always wrong.

I've only been watching the markets since the mid-90's, but I've never seen this rule broken...until last month.

The rule of Wall Street is the same as the rule of a Vegas casino: if you look around the table and you can't spot the mark, then you are the mark.
Basically the game works like this.