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Re:U.S. stock market returns – a history from the 1870s to 2022 by cko on Friday January 06, 2023 @03:23PM (#34280500)
GDP growth is uncorrelated with stock market valuations.

https://m.youtube.com/watch?v=DEV49qY0TP8

Re:U.S. stock market returns – a history from the 1870s to 2022 by cs702 on Friday January 06, 2023 @03:51PM (#34280882)
Exactly his point.

In his example, a prominent group of blue-chip companies grew for 17 years and their valuations remained flat (and net of inflation, declined).