> The government is basically telling everyone to take crazy risks, because if the risk is big enough, we'll bail you all out.
This is the widespread sentiment, yes, and why the bubble is so crazy. The feeling a lot of people have is; even if shit hits the fan, rather than let stocks/assets decrease in value relative to cash, governments will just print money and keep stocks/assets "stable" while making cash worthless. The US proved they're willing to do this during COVID. What you're betting on by holding assets despite the bubble is that they're willing to do it again.
This is the widespread sentiment, yes, and why the bubble is so crazy. The feeling a lot of people have is; even if shit hits the fan, rather than let stocks/assets decrease in value relative to cash, governments will just print money and keep stocks/assets "stable" while making cash worthless. The US proved they're willing to do this during COVID. What you're betting on by holding assets despite the bubble is that they're willing to do it again.