🇺🇸 THE US STOCK MARKET HAS NEVER BEEN THIS EXPENSIVE The gap between stock prices and actual money supply (M2) just hit a record-breaking 270%. • We are now +120 points higher than 2022. • We are +40 points higher than the peak of the Dot-Com Bubble. • We are +75 points higher than the 2008 Financial Crisis. While the UK and France sit at a modest ~60% (below pre-covid highs), the US is defying gravity. Even Japan is only back to its 1990s levels. The market isn't just running ahead of liquidity... it has completely detached from reality.