The forward annual change in 7 year forward NGDP has dropped by 50%, starting with the Federal Reserve emergency extraordinary policy. These policies have been maintained for 12 years now and only some indication lately to normalize. This is called a Neo Fisherian sink or “Japanification”. Currently the term structure of NGDP is inverted.

Percentage SP500 over fair value using spot GDP is 0.1252301

Percentage SP500 over fair value using GDP in 7 Years is 0.3149412

Russell 2000 is -0.0686712 under fair value using spot GDP.

Russell 2000 is about ‘r R2000fv’ rich to fair value using GDP level in 7 years.

Wilshire 5000 is 0.2765392 overvalued to fair value using current GDP level.

BRK is 0.5360153 over fair value using GDP 7 years forward.

MSFT is 67.7716988 % rich in relationship to GDP.