The ๐ฎ๐ฑ ๐ฑ๐ท USA stock market is in the BIGGEST #BUBBLE ๐ญ in #WORLD_HISTORY The entire economy is at risk.
Jan 3, 2025
The US stock market is in "the #mother of all #bubbles", with the market capitalization of publicly traded companies at #206% of GDP.
This is higher than the #dot_com #BUBBLE_BURST of 2000 and even the peak of the #crash of 1929.
Meanwhile, just 25 #companies make up over #half of the weight of the S&P 500, and the Magnificent 7 Big Tech #monopolies are 35% of the market cap of the index.
However, the US economy was built upon this financial #house_of_cards, and #politicians are #profiting from it. Ben Norton explains the dangers.
Topics
0:00 American exceptionalism
0:53 US stock market is over 60% of world
1:16 USA is 74% of MSCI World Index
2:10 Top 25 companies in world
3:29 Exorbitant privilege of US dollar
4:59 S&P 500 and Nasdaq indices
6:07 Magnificent 7
6:50 Just 25 companies make up 50.3% of S&P 500
8:26 Tesla is insanely overvalued
12:03 Big US companies are really financial firms
13:11 How to measure a bubble
14:15 Buffett Indicator (market cap to GDP)
15:57 Public & private equities to GDP
17:00 How the US government inflated the bubble
21:10 Richest 10% of Americans own 93% of stocks
22:23 Warren Buffett's warnings
23:56 Berkshire Hathaway dumps stocks
26:32 Jeff Bezos sells Amazon shares
27:22 Mark Zuckerberg sells Meta stocks
27:40 Elon Musk sold Tesla shares
28:08 The "greatest bubble in human history"
30:27 Alan Greenspan and "irrational exuberance"
31:16 Fears of "pent-up exuberance"
32:19 P/E ratios
33:41 Irrational investing
34:54 Donald Trump's tax cuts help the rich
37:54 Trump and Ronald Reagan
39:04 Trickle-down economics
41:16 Wall Street fills Trump's cabinet
42:02 Financialization of US economy
43:44 Will Trump reverse de-industrialization?
45:38 Real estate & homelessness
46:38 US dollar
47:34 Wall Street vs Main Street
49:06 Outro
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