Nobody ever said stock market can see ACCURATELY in the future. Only God has that ability. But stock market actually does have a decent batting average in predicting future economic activity.
As for me, since I can’t see worth a damn in the future, I can only rely on historical behavior. That is why I have been posting for several moons that stock market is dangerously over-valued based on 100 year historical data. No one knows how extreme the market will reach in either direction, but eventually it tends to float towards past averages.
But compared to the rapid rise of other financial factors like college tuition, stock market isn’t over valued...