With share prices up by 20% this year, many commentators are warning of a top, a bubble, an Armageddon to come. But I think that we are just getting started.

Share prices have the rocket fuel for the Dow average to make it to 15,000 by the end of 2015, and possibly 100,000 by 2025. To understand why, you have to focus on major long-term structural changes occurring in the global economy which at this point only a handful of strategists can see.

The evidence couldn’t be more undeniable. The major stock indexes have repeatedly broken out to new all time highs in 2013. The more volatile and economically sensitive Russell 2000 small cap index has left it in the big caps dust. Inflows to equity mutual funds have been the most prolific since 2008. It all paints a picture of a run up to and (SPX) of 1,780 by year-end, which by the way, has been my own forecast all year. Perma bears be damned!

The financial press would have you believe this is all happening because Ben Bernanke changed his mind on “tapering” postponing the death sentence for his quantitative easing program until well into 2014, as if that was ever in doubt. My own theory about the extended life of ultra lax monetary easing has held up once again.