One of the remarkable things about this era is that the long-term debt cycle has correlated with the longest-ever period of growth stocks outperforming value.
Discussion
numbers don’t lie, current system is a scam. we’re being scammed!
Outside of index funds and Bitcoin I mostly own growth stocks. I just like the idea to own a piece of the future. I know the PE multiple are insane but I want to own the innovation. if deflation from tech is pushing all prices to 0 I want to own the tech that made it happen. At the limit what becomes of the “economy” how do you even put a price tag on it.
Owning disruptive tech is temporary. Apple invented iPhones now there is so many smartphone companies... You can eventually capture innovation but it will not last. Bitcoin is the best hedge against tech deflation on a longer term.
Isn’t that MMT’s argument? Spurns innovation with cheap money creation. Understand it props up a bunch of zombie companies. What do you think innovation looks like under a bitcoin standard?
Wat mean
Manipulated markets
I love charts that go back 100 years