Right now assets valuations are sustained at least partly because the wealthy still have wealth to inveset and There Is No Alternative(TINA).
If you don't buy stocks, bonds or real-estate, the only other option is to hold cash. Holding very large amounts of cash can be inconvenient for various reasons. Gold is often proposed as an alternative, but it's value is already quite high, and it's an inflation hedge, while recessions tend to be deflationary.
The fact that the majority of US taxpayers got a big check, and are expected to get a second one soon is also a boost to the economy. However, mortgage delinquencies more than doubled this past quarter, so we are getting close to the point where foreclosures will happen, which will lower the prices of real-estate.
If you don't buy stocks, bonds or real-estate, the only other option is to hold cash. Holding very large amounts of cash can be inconvenient for various reasons. Gold is often proposed as an alternative, but it's value is already quite high, and it's an inflation hedge, while recessions tend to be deflationary.
The fact that the majority of US taxpayers got a big check, and are expected to get a second one soon is also a boost to the economy. However, mortgage delinquencies more than doubled this past quarter, so we are getting close to the point where foreclosures will happen, which will lower the prices of real-estate.