150 2005-06 even Moog 140 dollar dropped in 130 Fed hiked 120 110 160 150 140 130 120 110 100 90 80 70 94 92 00 08 17 76 li Sway Mare &S. Enneg Awn UP [Figure 2: US assets are already extremely expensive record high valuation in 4%k E expenses %%"•*: US assets 100% 2% I IY 80% 0% 6