Not saying you're wrong, just playing devil's advocate that you could say $4.3T was worth a lot more in 1989 than $7.5T in 2021 based on the outsized pace of inflation for necessary goods to continue living well and growing your personal wealth (homes, healthcare, education). It all depends how you define inflation, and arguably the method to weigh inflation currently does not reflect the growth of those previously mentioned items accurately when compared to their importance.