melissa: david kotok, did charles payne. >> i don't agree, melissa. i got to take the other side of the argument here. melissa: okay. >> we're four years in a bull run. we're up over 100% by whatever measure you want to use. you can not use an index reference from 2009 and apply it until today. if you look at value of the stock market in the united states against gdp, it is now high. the earnings share out of that gdp we just talked about it, is very large. four points have shifted from labor to capital in this recovery. and, i believe, this bull market is powered by central bank activity. not just in the u.s. worldwide. melissa: what does that tell you, if it is powered by central banks. does it keep going until they step off the gas? >> well, if the central banks of the world, japan, the united states, the u.k., the european central bank, others, are buying long duration assets, long term bonds, not short-term bonds, they are withdrawing duration, long assets from markets. those bull up the price of --. melissa: uh-oh. higher forces just froze out d