US equities cheap. REALLY?

Much has been said about how cheap the US markets are trading, using P/E and the fact that they have fallen so much. But, is US REALLY cheap?

For one, the US Dollar is depreciating and KEEP depreciating thanks to the CLEVER policies of Benny and Spanny! Will this policy change? I don't think so. They have already made their choice of employment OVER inflation. Action speaks louder than words. Even though Benny PROMISES that he will attack inflation AFTER employment is fixed, those are just words. The FACT is that he lowered rates. Such falling currency will deter investors because even if the equity goes up, when converted back to their home currencies, they might be WORST off than parking at their own local banGs. Since SICKapore banGs give such pathetic rate, I can understand y Auntie HO wants to buy so many US banGs. Put in SICKapore also no interest, right? hehehe.....

Second, the ANALysts are still predicting beri rossy outlook in the second half. So, the P/E is predicated at that happening. What if that didn't materialise? hehehe...