SPX - this is interesting. But, based on some of the underlying technicals, I do think it MIGHT be different this time (all time records blown away for weekly touches of the 21 EMA, etc). It does seem like the Gov has discovered that they can levitate the market at will with deficit spending....but they might have already known that. The big change is that they tested MMT in  real life, it inflated absolutely everything, and instead of people losing their shit and blaming them for inflation, the people cheered a higher stock market and were willing to believe inflation was someone else's fault (Putin, etc).  I think the Gov used to hold back on deficit spending because they feared the public response....but now that the public has proven they don't understand, I think nothing is stopping them from continuing.  

*I shouldn't say all time record for the time between 21 EMA touches on the weekly - I only went back to 1970 when I checked (there was only 1 other time close at 18 weeks). Need to run it against the full data set still.