It's at all-time highs right now, way over what the stock market was in 2007, 2008. The S&P had already bounced back to pre-2009 levels by 2014. At 3350 right now, it's more than double what it was in 2007 (1500). Inflation has not doubled since 2008. Inflation is near all time lows and interest rates are near all time lows and have been for at least a decade.