Compound interest is an exponential equation. Even 1% growth means doubling every 70 years and 1,000x growth every 700 years and 1 million x growth in 1400 years etc. Let's say US GDP is X$ and stocks are 'worth' a 100,000 X. At some point the market get's so far from the 'fundamentals' you get a crash, but it's more like a return to rational behavior.
PS: That's not to say tax breaks like 401k's cant shift things for decades. But, there is only so far you can inflate any bubble before it pops.
Compound interest is an exponential equation. Even 1% growth means doubling every 70 years and 1,000x growth every 700 years and 1 million x growth in 1400 years etc. Let's say US GDP is X$ and stocks are 'worth' a 100,000 X. At some point the market get's so far from the 'fundamentals' you get a crash, but it's more like a return to rational behavior.
PS: That's not to say tax breaks like 401k's cant shift things for decades. But, there is only so far you can inflate any bubble before it pops.