I disagree on that one. If the meme stock mania isn't a sign of the incredible level of speculative froth in the market, I don't know what is. In a normal market at least. With the Fed backstopping things, this hasn't been a normal market for a long time. They've created a liquidity bubble, a stock market bubble, and a housing market bubble all at the same time. Which one is going to pop first and when...nobody knows. But it sure won't be pretty.