By Dr. Steve Sjuggerud in True Wealth:

Everything has soared, and most things are now overpriced. But the Fed is holding interest rates at zero... so the frenzy could continue. The government desperately wants to reignite the economy. I'm sure the thinking is, if the "collateral damage" along the way is a soaring stock market, the government is quite alright with that.

When interest rates are at zero, and the market has soared for a month straight with very few down days, investors get reckless. They borrow money to buy stocks.

We've reached the point where speculating in stocks is like picking up nickels in front of a freight train. Stock prices are at silly valuations. But as long as interest rates are at zero, stock prices can go to even crazier levels. It's a dangerous game.

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