While "exceptional' America has been at the butt-end of some superlatives it might prefer not to be recently, the following chart from BofAML's Michael Hartnett showing the world according to free-float equity market capitalization shows that USA is still #1 after all...
Via The World Economic Forum,
The US, with a market cap of $19.8 trillion, is the biggest and represents 52% of the world’s market cap. Japan is in second place at $3 trillion, followed by the UK at $2.7 trillion, and then France at $1.3 trillion.
Notably, Hong Kong’s market cap is nearly the same size of China.
Meanwhile, Russia is about the same size as Finland in terms of market cap.
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The question is - is this sustainable in the new normal? And does this simply reflect the over-financialization of the US 'economy' relative to the rest of the world?
Who cares - USA USA USA!!!