This time is different? I don't mean to say this as a snarky and meaningless rebuttal. A large part of the book that coined this phrase indeed had the subtext

This time is different? I don't mean to say this as a snarky and meaningless rebuttal. A large part of the book that coined this phrase indeed had the subtext that something _was_ different, each and every time. When people quote it with the assumption that the other party is a fool, they miss the point. So I agree with all your points, just pointing out that historically, market turbulence has followed some time after structural changes like the one you're pointing out here. I don't have a better answer than anyone else -- the stock market is the best bet I can see for taking part in technological advancement and economic growth, and I don't see a good way to hedge. But I'm sure we'll get a nasty surprise at some point.