Irrational Exuberance 3.0

Everyone is cheering. Everyone is bullish. Standard & Poorâ??s 500-stock index just hit a new high. The Russell 2000 index of small cap stocks, which is typically even more boom-and-bust, has soared to new records. The government is back open, the Federal Reserveâ??s printing presses are on triple shifts, and itâ??s all good.