>>512772073>>512772155This is post-1970s Financialization of the global economy, using speculative debt instruments along with infinite continuous supplies of debt note fiat currency from central banks.
RE: stocks (the OP) they are vastly overvalued since the 1980s and since the official implementation of Phase 1 of Financialization with the 1999 repeal of Glass-Steagall, price discovery in all capital markets, particularly the stock (equities) market has been non existent.
One of the Financialization practices that has become endemic to the S&P500 since the 1990s is stock buybacks by corporations of their own shares simply to artificially boost valuations, that is they're not using capital for capex or product/manufacturing improvements of their own brand output they're just shoveling it into faux-inflation of their share values on the exchange. This is where a large portion of these corporations' profit margins are directed
>>512771774>since 2008correct, 'capitalism' died and went to heaven permanently after 2008. Since then all HNW entities, corporations, sovereign governments, hedge funds and banks have been totally dependent on endless supplies of debt note fiat currency QE from central banks to stay solvent. In no way is the post-2008 global system "capitalist" rather it's corporate socialism funded by private investment banks that 'print' money as debt on the backs of all nations' citizens and their descendents
