The stock and bond markets are now at the long-awaited peak…the actual high point should be this Fall or, at the latest, Winter. Individual investors including the new investor generation of Millennials are “all-in” along with the Federal Reserve and Federal Government on money and debt creation. We can expect more Federal Reserve moves to stabilize the banking system and continue to drive up the “wealth effect” of consumers but their long-time strategies continue to fall short and will likely give us a long-term “stag-flation” economy with inadequate job growth. The stock and bond markets are beginning to catch on that inflation is our new normal…not economic growth and jobs creation.