Why Stocks Did What They Did and Why Bonds Do What They Do This Year?

This time last year, December 2021, the US stock market was trading at 23 times earnings. Fast forward one year to today and you're buying stocks 30% cheaper than you were a year ago. And taking almost no risk, you can own short-term treasury bonds that are paying you 4.5%. How did we get there? I think the one word answer is- I blame Elon Musk.