描述
If $5 incremental market value results from $1 added to stocks, and 90% of millennials (aka future wealth owners) are in passive market vehicles, that 5:1 ratio will get much, much sillier in time. COVID didn't stop it.
Inflation might (not). #epiphany
The first step is to recognize that 5:1 is not a natural ratio. It is a product of a paradigm.
So what will continue this paradigm? What may reverse it? This is the knife's edge, BECAUSE we are at 5:1. It may go to 100:1.
Or become -5:-1. But parabolas don't
resolve sideways.