I don't know much about the stock market, so I thought I would ask the economic experts of ingo.
Does the federal reserve policy of keeping interest rates artificially low inflate the stock market?
If so, is the stock market artificially inflated?
If it is, why the celebration of hitting X?
Take a look at the Planet Money podcasts. The DJIA is already not indicative of the market as a whole, so it's somewhat moot.
As to the fed - I guess it depends on how you define artificially inflated... yeah, I'm an investor, not an analyst, so...