[kirse]

I think the other practical issue is that a "bubble" can go high enough where a 70% downward correction could still land above where you originally decided to cash out. I made this error back in 2016 thinking that Obama had juiced things for 8+ years and there'd be no way for Trump to keep the party going. And that taught me a hard lesson on the foolishness of trying to time the markets.

The other issue we are dealing with now is also asset inflation, where the number on the screen does not reflect any intrinsic value, but moreso the ongoing devaluing of the dollar we hold in our pockets.

I personally think this whole "modern monetary theory" is a game where the smart folks at the Fed realize that rather than have people watch the number on their savings and 401ks obliterated in a crash, they prefer to keep that number appearing the same and bury the "cost" of the bubble into a deflating dollar. It keeps the masses happy because they see the $s in their savings account still going up, which retains confidence in the system. Who knows when everyone will catch on, but it's been working so far.