Spx/real disposable income ratio.
How expensive is the market historically.
Normal ratio 50's-84'
Since the orwelian 1984 we have a different story (one wich is about to end).
How expensive is the market historically.
Normal ratio 50's-84'
Since the orwelian 1984 we have a different story (one wich is about to end).
Fase 1 LT: go more flat during a stagflation period.
Fase 2 LT: drop during an inflation period.