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It occurred to me today that almost nobody uses stocks for their intended purpose anymore (buying a controlling stake in a publicly traded company) and almost all of the value is derived from greater fool theory where people want to cash in on the 401(k) ponzi scheme that US workers are forced to participate in. The actual utility of owning stocks is close to zero. Nearly all of the value in 2024 is speculation that stocks might be worth more in the future, because of the aforementioned ponzi scheme.
