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In The Media

debt-adjusted Warren Buffett metric Turns Heads 720 Degrees

by Larry Chiang on November 2, 2026

✅  Luke Gromen retweeted praise from @BennettWoodman calling his debt-adjusted Warren Buffett metric one of the sharpest fiscal-dominance frameworks, noting that every prior 100% reading saw stocks badly lag gold and the metric now sits at 130%.

✅  The metric combines total U.S. equity market cap as a percent of GDP with an adjustment for federal debt levels due to expected future monetization, visualized on a FRED chart with red circles at historical peaks around 2000, 2020, and recent years.

✅  At current elevated levels, Gromen warns that gold remaining under $4,000 could signal severe upcoming challenges for equities relative to gold as a monetary hedge.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

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