The Liquidity Mirage: Equity Valuations through the Lens of Hard Assets
A Macro Analysis of the Equity-Gold Correlation The Illusion of Nominal GrowthIn contemporary finance, the S&P 500 is often treated as the ultimate yardstick of economicprosperity. When the index hits new highs, the narrative follows: corporate innovation is thriving,productivity is soaring, and the economy is robust. However, this perspective relies on anassumption that the dollar,…