Overall prices should be falling due to increases in productivity. Fear of deflation leads to QE, keeping consumer prices from falling but leads to sharp increases in nominal prices for goods that have not benefited from productivity gains, e.g. K-12 education. Trend exponential

That it's impossible to implement a necessary tax increase on the wealthy to push more money into spending (and away from capital accumulation) when the only people who create policy are those who would be taxed most.

Vanguards intermediate term bond index is paying like 2.5% , 10 yr treasuries are paying 1.9%. What am I missing where are the negative interest rates?. I'd be glad to borrow and get paid.

That the bubble is more bonds than equities. That when it reverses anyone that, by mandate, needs to hold bonds (insurance companies, pension funds) will suffer big losses. That their customers will be scared, and someone will be ready to snatch them away to a better platform.

That there is no option but to invest in the hyper-growth, low-profit, compute-driven firms. Which will take over large parts of the economy with drastic social consequences. Normal corporate growth is as stale as the US 10y of yesteryear.

It didn’t have to end like this.

Capital Misallocation

“With the 2020s phenomenon of ‘negative interest rates’ in full swing, it was only natural that many people chose to hedge systemic risk by investing in permissionless global crypto networks.” - #HistorAIn 2053

That negative returns are completely normal and natural in asset markets. People are only blind to this because they are coming out of a century of unprecedented population and technological growth.

Money isn't real