Holy cow moment on Wall Street, U.S. stocks hit 306% of M2, blow past 2000 bubble peak, value of shares now over 3 times America’s cash
Stocks now outweigh the money supply by three to one, which only works as long as liquidity keeps pretending it’s infinite. When cash tightens even a little, there’s nothing underneath that valuation but hope. That's when people want to be in the world reserve currency but even that has its limits…. And we are about …