I mean Japan's stock market is at a all time high right now. Do you really think the Japanese want to be in this position over the 80s? Toshiba isn't even listed anymore.
What is better, invest your nation's capital stock in some passive fictitious virtual digits on computer screens, "flipping" it around endlessly in a void, or have your citizens invest their life savings into starting productive businesses, that help the local community and the country way more? What benefits the elites (asset holders) vs ordinary people (real wages)? That's the question.
By the looks of the stock market, you would think that in India they live better than in China, yet the reality is far different. Indian and American stock markets (especially meme stocks like Nvidia) are the biggest bubbles in existence now.
India is like a shittier version of America, but you can't deny the similarities; Financialization, rent-seeking, services, the dominance of agriculture and natural energy in exports, imports of all essential manufactured products, components, tools, from China, oligarchs meddling in government and politics controlling literally all policies, deficient social mobility, inequality, divisions, etc.
People are going to realize the hard way the stock market represents misplaced hype not the actual economy. Has Crypto after all this time gotten any close to real mainstream adaption? Its gonna hurt real bad when the bubble bursts.
GameStop. AMC. Nvidia. It's so obvious something ain't right yet people haven't realized it. Imagine having everyone doing financial speculation in a country with wealth levels per person so low. Thats just asking for trouble at this point. Like a case study of what happens when you act like the west without being developed or as rich as them.
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