A sustained period of nominal US equity softness comparable to 1929–1955 or 1966–1982 or 2000–2013 is not possible unless the US first devalues the national debt, because the fiscal math requires stock market appreciation of 10–15% annually without fail.
causalpending
Speaker
Luke GromanEvidence Quote
“The stock market de facto backs the treasury market and that means that given US debt and deficits the stock market's got to rise 10 or 15% or more per year every year without fail or else the fiscal math for the United States of America does not work.”
Source
Why is high debt different now v. prior instances of people “fear-mongering” about the debt?— Luke Gromen - FFTT, LLCCreated: 8/11/2026, 7:46:30 AM
My Notes
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