史上最大泡沫，彻底失去软着陆的可能了！美国债突破37万亿的时刻

Group 1 - The U.S. stock market is approaching historical highs, with the S&P 500 and Nasdaq showing significant gains, while U.S. national debt has surpassed $37 trillion, indicating a potential bubble in the market [3][12] - The market is characterized by high price-to-earnings ratios, with many companies exceeding 30 times, and some even surpassing 70 times, alongside a record high market capitalization to GDP ratio [10] - Retail investors are holding a significant portion of stocks, reminiscent of the 2000 internet bubble, while institutional investors are reducing their holdings, indicating a shift in market dynamics [15] Group 2 - The Federal Reserve is maintaining high interest rates to combat inflation, yet there is internal support for potential rate cuts, suggesting a reluctance to burst the current market bubble [8][12] - The U.S. budget deficit for fiscal year 2025 is projected to exceed $1.9 trillion, with interest payments alone potentially surpassing $1 trillion, which could strain federal finances [12] - Despite the acknowledgment of a market bubble by a majority of fund managers, only a small percentage are willing to reduce their positions, reflecting a collective acceptance of the inflated market [17]