The ratio of US stock market value to GDP has risen to a new high of 238%

The Kobeissi Letter published on X platform stating that the ratio of US stock market value to GDP has reached a historic high of 238%, with a total stock market value of $75.7 trillion, far exceeding the economic scale of about $31.8 trillion. Since the S&P 500 hit the bottom on March 30, the ratio has risen by 38 percentage points, 90 percentage points higher than the 148% at the peak of the Internet foam in 2000. Since the 2008 financial crisis, the growth rate of the US stock market has been five times that of the underlying economy.