The Justice Potter Stewart Bubble: Wilshire 5000 To GDP Ratio At All-time High

US Supreme Court Justice Potter Stewart once stated that with regard to obscenity, “I know it when I see it.” The same goes for asset bubbles. I know one when I see it.

The Wilshire 5000 stock index to nominal GDP ratio is now at an all-time high.

wi5000togdp

Justice Stewart was referring to pornography, not asset bubbles.

fedbubblemachine

Have a safe Fourth of July.

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