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 0.0959518

Percentage SP500 over fair value using GDP in 7 Years is 0.2180638

Russell 2000 is -0.1090757 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 0.2381488 overvalued to fair value using current GDP level.

MSFT is 47.6169652 % rich in relationship to GDP.