What's your opinion of the stock market? Does the economy need it?

Way overvalued. It's been a fixture in our economy for so long.....I don't know how much we can get by without it......but I think people put too much "stock" into it. Recession happens because of job losses and whatnot.....but its also a state of mind. Anytime that market tanks even s little bit, people panick, businesses don't hire, etc so the economy get stagnant. I think we've become too dependant on it.