Financialization of the global economy is now complete, thanks to the world's hyperactive Central Banks and the age of riskless recklessness they engendered.
The notable 'hockey stick' that is, dynamically reminiscent of the Bitcoin craze is now evident in the stock markets too, and it has zero parallels in the post-dot.com period. In fact, this is the highest global market capitalization level on record, as data from the World Bank augmented with current data through November 2017 shows:
You can think of the stratospheric rise in world equities valuations as a reflection of liquidity supply generated by the Central Banks since 2007. You can also think of it as a wealth buffer built up by the world's wealthy elites to protect themselves against potential future stagnation and political populism. You can equally think of it as a bubble.
Whichever way you spin these numbers, the rate of increase since 2015 has been simply unprecedented by historical standards, faster than the dot.com bubble and faster than the pre-GFC bubble.