Money Flows -- Follow the Money Flows

These charts should be self-explanatory. 

One question I can't answer though....if the mutual fund money flows have been strong and consistently going out of US Equities, then what is the driver for the US Equities going up 50%?

Ideas: (maybe I will make a poll out of this, heck, maybe I will phone a friend :-))

1) Zero Interest money from the US Gov....given to banks, who then ramp up the indices to build confidence?
2) Dropping of the US dollar, Inverse correlation for whatever reason
3) Investor like Buffet see buying future profit streams (a "Fundamental" view of stock pricing is that you are really buying the net present value of future profit streams), as a "hard asset".

4) The large brokerages, which are now banks so they can side step inconvenient laws, are pumping non-mutual fund money into the US equity indices, using say, your State's retirement reserves, which also allows them to hand out $38 BILLION in bonuses for all the fine work they have been doing.