Both points of view here are off imo. Growth based on real productivity is slowing (stagnate even), but it should be noted maybe growth is moving linearly, but

Both points of view here are off imo. Growth based on real productivity is slowing (stagnate even), but it should be noted maybe growth is moving linearly, but we expect non-linear improvements (100 -> 110 is 10% growth, 1000 -> 1010 is 1% growth). As you point out, growth via financial instruments is all fine and dandy. Better than ever even. But the stock market is a model of the economy, but it doesn’t represent individual experiences. But distribution in ownership of capital very much follows a power law. So while people in the market are making great paper gains, there are many who are left out. We are growing, but relative inequality is growing faster. Psychologically, people can handle absolute differences in comparisons of wealth, but relative ones are what cause much of the views and behaviors we see today. Such as “woe is us”. Of course this is all my synthetic anecdotal speculation.