This stock market indicator suggests valuations are back in the 99th percentile. Last time this occurred was in March 2000.

The weekly stock market valuation indicator, comparing a broad U.S. stock market index with the money supply a leading economic indicator, increased slightly compared to last week.

This simple stock market valuation indicator comparing a broad U.S. stock market index with a leading economic indicator and the money supply is still hovering near all-time highs.

Stock market prices relative to bank balance sheets are once again elevated.

How to compile an accurate money supply and how the money supply has evolved during the last few decades?

Economic stimulus programs stimulate spending and investments above means, not economic growth.

As money supply growth is a key driver of price inflation, the great disconnection between the two, now the highest ever based on data starting in 1959, indicates that price inflation as estimated by the GDP Deflator could be vastly underestimated.

This stock market valuation indicator suggests future U.S. stock market returns could be lackluster.

There is a possibility that the relatively low level of investments has softened the business cycle and prolonged the bull market in U.S. stocks.

More than two centuries ago, a tremendously important economic principle was brought to prominence. This principle today goes by the name Say’s Law, or Say’s Law of Markets. This article discusses the adoption of Say's law.