> Doesn't that suggest people on average have had a misplaced fear of stock (indices) in the past. Yes, I think this bit is pretty much agreed upon today. Henc

> Doesn't that suggest people on average have had a misplaced fear of stock (indices) in the past. Yes, I think this bit is pretty much agreed upon today. Hence the run for indices. > and that capital is now more efficiently allocated? That sounds likely to me. > Sounds like it would make the world better off. As tempting as it is to argue one way or another ... I think that's an impossible statement to make. But like I initially said, it's all just speculation anyhow. Tbh these kind of discussions are inherently whacky. Chances are everything you've quoted from me is flawed on so many levels if one takes a closer look. Discussing finance is mostly a fool's errand.