Subject: Re: The "Buffett Indicator" LOL...
Nominal estimate: The probability that the S&P 500 will nominally not be higher in 5 years, , is estimated at 25% to 35%.

Real (inflation-adjusted): The probability that you will not have gained any purchasing power after inflation could be over 50%.

IOW, The S&P 500 will probably be higher in 5 years.