Now, everyone knows that the stock market continues to fly higher and that pessimists are screeching that everything is overvalued. The bears, they do have plenty of data to point to. The S&P 500 is now trading at 3.15%x sales.It's the highest valuation in history. Not so fast, my friends. There's a number of considerations worth unpacking here.For example, the US stock market is denominated in dollars, as you all know, and those dollars have been debased at a much faster pace than what the public has been ...