The Market’s Hollow Crown: Inside Wall Street’s High-Tech Delusion

THE ENGINE OF THIS FRAUDULENT SURGE Valuations Are Unhinged From Reality The S&P 500 is trading at a forward P/E of 22.5x. That’s not optimism — that’s delusion. It’s the kind of multiple that assumes smooth sailing, low inflation, and strong earnings across the board. None of that is happening. Corporate earnings aren’t broad-based. Productivity is limp. Real wages are stagnant. But asset prices soar because the Fed has re-armed its monetary put — and Wall Street can smell it like blood in the water. The lie isn’t hidden. It’s printed right on the tape — and still, the suits keep buying. All In on the Magnificent Monopoly The so-called “Magnificent Seven” — a cabal of AI-heavy mega-cap stocks —…