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Yeah, I think this ties together a couple of recurring themes.
  • #578776: Fewer regular people will be involved in financial markets, which should reduce noise.
  • #474759: There's a huge monetary premium on stocks, because our money can't be used to store value. Without that, stocks and other investments have to offer more value.
Yes, I think this is right. If the money was a good store of value most folks would just save instead of trying to invest and monetary premium wouldn't be a given. An investment would have to be both quality and reasonably priced.
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