A Whole Lot of Bull

Ben Rooney:

Sunday marks the fifth anniversary of the day the stock market hit its lowest point during the financial crisis and Great Recession.

The fact that the rally is about to turn five has some investors wondering if stocks can keep going much higher.

But previous bull markets, which are broadly defined as a period where the S&P 500 gains 20% or more without a decline of 20% in between, have gone on longer than the current one.

As of this week, this bull market ranks as the sixth longest since 1928 -- just behind the bull market from 1982 to 1987, according to Bespoke Investment Group.

If the S&P 500 hits a new high any time after March 22, this bull market would become the fifth longest. Assuming it continues to rally through Memorial Day, the current run would be longer than the bull market from 2002 to 2007, when the housing bubble inflated.

The last bubble was propped up by easy money propping up easy lending propping up housing propping up consumer spending, and it was a global financial disaster when it popped.

But we've learned so much since then, that now we have easy money propping up easy Wall Street returns propping up spending by the rich.

Surely, a structure built on that firm foundation could never collapse.