A Bit of Reversion Can Be Profound - Welcome to 2025. What is 2.1 Trillion? This year's drop in US #stockmarket capitalization to March 7. It's may be silly to expect anything but #deflation if stocks continue to fall with market cap-to-GDP in decline from over 2x -- the greatest on the way up since 1929. Gold get's it and is even beating #Bitcoin on a one-year basis. What stops it? Unprecedented austerity and tariffs seem like continuation fuel to me. On Bloomberg here: https://blinks.bloomberg.com/news/stories/sse466t0afb6 {BI COMD} #commodities #metals #macroeconomics @BBGIntelligence