‘It’s Not Like We’re In This Spectacular Market’: Shiller Delivers Reality Check

“The United States is the most expensive market in the world.”

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Robert Shiller Asks: ‘Why Is The U.S. Stock Market So High?’

“This brings us back to the mystery of what’s driving the US stock market higher than all others. It’s not the “Trump effect,” or the effect of the recent cut in the US corporate tax rate. After all, the US has pretty much had the world’s highest CAPE ratio ever since President Barack Obama’s second term began in 2013.”