> My current hypothesis is that the growth in the _price_ of the US Stock market (eg S&P 500) is actually devaluation of the dollar.
You mean devaluation is causing the growth of SP500, or the other way around?
You mean devaluation is causing the growth of SP500, or the other way around?
It's kinda like saying during "My bread appreciated!" during hyper inflation.
IMO we're in one of the cases where "Number go up" is actually bad.
The FTSE100 is mostly multinational companies valued in pounds. The FTSE250 is mostly British companies valued in pounds. If the FTSE100 goes up while the FTSE250 stays flat or falls then it means the currency got devalued and there's no real growth.