Apologies, But The S&P 500 Is Not At An All Time High

There are myriad stories around about how the S&P 500 is at an all time high. And this is true in one sense but simply isn’t true in another, more accurate sense. That other, more accurate sense being the one economists would have you look at of course. The important thing is that we should correct for inflation. In fact, we should nearly always correct for inflation so this is nothing very new or different.