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Taking stock of Wall Street’s boom (1)

May 15, 2014

Steve Keen

[. . .]

If the US economy was performing as well as the US stockmarket, even Walmart workers would be breaking out the champagne.

Since 2009, the S&P has risen over 250 per cent in nominal terms, and almost 230 per cent in inflation adjusted terms. In nominal figures, it is at its highest value ever, though when you adjust for inflation, it is still 10 per cent below its peak in 2000 (see Figure 1).

The $64 question is: will it keep on going up?

[. . .]

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