US Stock Market Cap to GDP Reaches 190%, Eclipsing Dotcom Bubble High

Today’s episode of The Breakdown looks at the stories the stock market is trying to tell, including:

• New all time high in total market capitalization to GDP ratio (higher than dotcom bubble) 
• “No precedent for how high” valuations can go 
• Fed denies asset bubble; intimates it wouldn’t care about asset bubbles if full unemployment comes with it
• Bezos at $200,000,000,000
• Percentage of stocks traded by individuals reaches all time high of 20%
• Robinhood leads in FTX complaints
• Buffett’s Japan trading firm bet