Sounds like an extreme view, many people, even lower income still have retirement funds who are being invested somewhere and they're not taking money out. Sure

Sounds like an extreme view, many people, even lower income still have retirement funds who are being invested somewhere and they're not taking money out. Sure, buybacks were responsible for a big part of stock buying activity for awhile. But that has completely stopped now as companies prepare for the uncertain future. Should look into Central Banks activities... e.g .BOJ is top-10 shareholder in 40% of Japan's listed companies Central Banks everywhere are dumping more and more money in the economy. The one from Europe is ready to buy Italy bonds even if its moved to Junk bonds.