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Instead of M1, would this make more sense as a currency adjusted chart, with USD against a basket of non-USD currencies (or gold)?
by zeckalpha 6y ago
Instead of M1, would this make more sense as a currency adjusted chart, with USD against a basket of non-USD currencies (or gold)?
- nabla9 6y agoNo. The whole premise is flawed. Nominal prices don't determine market valuations. Economy is a process. Companies are priced against their future cash flows. If you want to get some idea of what is going on, use ratios like CAPE or market cap to GDP.
- georgeplusplus 6y agoYou may be eluding to it but for others that don’t know, There is an index chart that measures the USD against a basket of non USD currency called DXY.