Wealth cannot be created by Credit Expansion. For a while it can...

Wealth cannot be created by Credit Expansion.

For a while it can create the Perception of Wealth.  Today, Market Capitalization to GDP stands a ~200%

Former major tops:
In 1929: 109%
In 2000: 130%
In 2007: 105%

Largest Recession and Bear Market will unfold over coming years!

https://x.com/HenrikZeberg/status/1819230063251886392

....but I am very certain, few would listen to Henrik.

....the Melt-UP isn't over according to him; but a Melt-Up does not mean a rising tide that lifts all boats.

....but consider the opportunity to sell into any strength a fortunate escape door.

....95% of people will wait to see it happen before deciding what to do.

....all because they weren't prepared to take a small loss or gain.

....as Vern Gowdie reminded us "Winning Is Not Losing".