At or near the peak of every stock market, things get crazier and crazier.
Toggle bonds where interest is aid, not in cash but with more bonds, have been running rampant. Corporate share buybacks went crazy.
Now, despite massive stock market overvaluation, with median Price/Revenue ratios at an all-time high, Alaska governor Bill Walker wants to borrow money from Asia at 4% to buy stocks, hoping for 8% returns to shore up Alaska pension funds.
The Pension Proposal Received a Negative Reaction, but the governor is like to go ahead anyway.