🚨Record 270% Gap Between Stocks and Money Supply (M2): Is the Bubble About to Burst?

The gap between stock prices and money supply (M2) has reached a new high of 270%.

• 120 points higher than in 2022
• 40 points higher than the dot-com bubble
• 75 points higher than the 2008 financial crisis

How do other markets compare? The UK and France are around 60%, while Japan has only returned to 1990s levels. The US is far ahead.

Implications:
✔ Future returns may be lower
✔ More sensitive to shocks
✔ Greater risk of downturn
✔ Valuation buffer is thin

Doesn't mean:
❌ A crash is a foregone conclusion
❌ The market is "out of touch"

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