Yeah, it's a dynamic system, I get it, but it does seem like the beneficial effect of adding another dollar to the investment-side versus the demand-side ought

Yeah, it's a dynamic system, I get it, but it does seem like the beneficial effect of adding another dollar to the investment-side versus the demand-side ought to differ as balance of the overall money-supply shifts between the two, and it seems to me that if the rate of accumulation to one side is excessive it could outpace the ability of the system to "naturally" redistribute that balance. I'd expect "more investment dollars chasing smaller returns" (because the demand-side doesn't have enough cash) to show up as a declining velocity of money, and from what I can tell that has been trending downward from a peak in the late '90s (M2) or around '08 (M1). I'd also expect this to cause some apparently-goofy valuations in the stock market, and... ditto. Increasing reliance on investments that rely on the price of the investment simply going up for returns, not on returns from productive activity, and... yep (real estate sure appears to be caught in a nasty trap of this sort, in particular). Or an enthusiastic boom in "investment vehicles" that permit near-zero-actual-economic-value speedrunning of the entire history of financial scams, and... yep, again.