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Yes, it will end badly. But in the meantime, there is a lot of money yet to be made. From Saturday's Wall Street Journal.

Liquidity

Worries are spreading that, like previous liquidity-driven market surges, this one could end badly, though many investors believe that won't happen soon.

Money supply in major countries, as measured by cash and checking accounts, has been rising sharply relative to gross domestic product, or total value of goods and services, Morgan Stanley reports. Money supply relative to GDP is at the highest level of any period covered by Morgan Stanley's data, which go back to the 1970s.

That measure of money supply has tended to move in line with bull and bear markets. It was declining in the late 1980s, ahead of the 1987 crash and the 1990 bear market. It started expanding in 1995, as a major bull market began. It started pulling back in March 2000, as the stock market fell. It then began expanding at the start of 2001, ahead of the next bull, only to top out again at the end of 2006, ahead of the next bear. Now it is surging again.

1100 on the S&P 500 anyone?

Source: Surging Liquidity: There's Money to Be Made Now