You can also note that M2 is correlated basically with inflation in the long run (Rsquared ~0.92)
The error on the part of the twitter user is that he's using nominal values instead of % growth (log-log) values. Something you learn in 101 econometrics.
This is why you don't listen to crypto bros on matters of monetary economics.
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It might surprise no one here that people who are professionals in the finance industry are capable of adjusting for inflation:
https://www.multpl.com/inflation-adjusted-s-p-500
You can also note that M2 is correlated basically with inflation in the long run (Rsquared ~0.92)
The error on the part of the twitter user is that he's using nominal values instead of % growth (log-log) values. Something you learn in 101 econometrics.
This is why you don't listen to crypto bros on matters of monetary economics.