The highest GDP per capita and lowest government debt in this programme, alongside a genuine and still-unresolved sentiment divergence
Switzerland combines the highest GDP per capita ($114,769) of any country in this programme with an unusually stable inflation record -- CPI peaked at just 2.84% in 2022 (versus 5-7%+ elsewhere) and has since fallen to 0.15%, alongside a still-negative Swiss National Bank policy rate (-0.045%). Government debt is the lowest in this programme (22.3% of GDP) and governance indicators are among the strongest. Switzerland's foreign reserves ($1.076 trillion) are exceptionally large relative to its economy, reflecting SNB currency intervention history rather than simple trade accumulation. A genuine, unresolved tension: consumer confidence is sharply negative while construction confidence is positive -- noted, not explained away. Stated gaps: no NIIP, fiscal balance, or capital-markets data exists for Switzerland on this platform, and the World Bank unemployment figure (4.87%) may not match Switzerland's own national methodology.
This article is available to Research Members.
Subscribe to continue reading, including full analysis and data.
View plansPart 1 of a ten-part research programme on US equity valuation: establishing 145 years of CAPE history as the shared foundation, and a genuine regime shift the rest of the series builds on
A full institutional decomposition of the 2026 Iran conflict into four distinct economic transmission channels, with a ten-scenario quantified framework and the lucabindi.com House View
Part of the Equity Valuation Programme: a permanent, automatically-updating framework for the ratio Warren Buffett called "probably the best single measure of where valuations stand at any given moment" -- reconstructed here entirely from lucabindi.com's own warehouse