The majority of people think that the market can just keep going up forever. There is this reluctance to accept the reality that the music has stopped playing. People want to yolo in meme stocks like its 2021. I recall a similar scenario in 2000 with internet stocks.
I can see a scenario where we go from everyone being rich at the top at unprecedented levels, to the complete opposite.
Agree a big sell-off (crash -whatever one wants to call it) is due....long overdue.