Yes, Complacency, it is one of the most dangerous things as a investor, that you can do. Sometimes people get into a trade, and just don't want to look and it, and hope it will turn around. Well the investors are getting complacent, in the fact that the market goes down, and in 2 days is back up to where it was.
Of course the government has to step in, and the more time the government steps in, should flash a sign that hey. Things are not as good as they seem. Or if you want to even go further look at health care, education, and infrastructure. These are all ran by the government, and all are in complete disarray. Overpriced failures compared to what the private sector can do.
Also when you do not ever allow a correction, you really create fat inefficient companies at the top. They can eat up a massive amount of the market share, and not really be progressing. When recessions come, companies come and go, which allow for new companies to rise up, do things better, and attack the market share. Basically we will have a bunch of union companies soon. By that I mean companies that really don't care, have no creativity, terrible customer service, and just too big to fail crap. Failing is good, you learn from it and rise from the ashes, but when we do finally fail and it will happen, we will long for the day the market only went down 50%.