I agree with what you are saying, every single point.
But, we should take it one step further.
It is what that China watcher Louis Vincent Gave said about the US stock market.
When they say NDVA is a $4 trillion dollar company, and when they say Nvidia is a $5 trillion dollar company, and everyone knows all the money is concentrated in these tech stocks, that means one thing.
Actually it means a couple of things, that one, these big tech companies are the market now, and two, since they are the market that means they are too big to fail.
So that is what Mr. Gave believes. If the bubble burst, the US government probably should and will step in.
If they bailed out the banks in 2008, then how difficult it is to bail out strategic tech companies? In fact, they already put in a price floor for strategic minerals, and the US government is a shareholder in some big name important companies, forget who now.
The game is rigged. Stay long.