The move from defined-benefit pensions to defined-contribution 401(k)s forced individuals to over-accumulate assets to guard against an unknown lifespan. This created a massive, structural, and inflationary demand for financial assets, as everyone must plan for a worst-case retirement scenario.

Holding cash is a losing strategy because governments consistently respond to economic crises by printing money. This devalues savings, effectively forcing individuals to invest in assets like stocks simply to protect their purchasing power against inflation.

When governments print money to cover deficits, they devalue currency, effectively imposing a hidden tax on citizens. The only protection is owning assets like stocks, real estate, or businesses whose value rises with inflation. Since 90% of Americans lack significant assets, they are most exposed to this wealth erosion.

Many accepted financial rules are not timeless. Stocks only began consistently outperforming bonds after WWII, and inflation-adjusted US home prices were flat for a century before 1997. This reveals that much financial advice is based on recent history, not immutable laws, making it a poor guide for the future.

In an economic system with persistent currency debasement, holding cash in a savings account guarantees a loss of purchasing power. Prosperity is no longer achievable through simple saving; it requires actively "betting" on assets that can't be inflated, such as stocks, real estate, or crypto.

The modern mantra of "stocks for the long run" is a historical anomaly. For most of U.S. history, including the entire 19th century and up until WWII, bonds were the superior or equivalent long-term investment compared to stocks.

Core components of today's financial landscape, including FDIC insurance, Social Security, and even the 30-year mortgage, were not products of gradual evolution. They were specific policies created rapidly out of the financial ashes of the Great Depression, demonstrating how systemic shocks can accelerate fundamental structural reforms.

While many point to ending the gold standard in 1971, the true catalyst for modern economic problems was the 1913 creation of the central bank. This act laid the foundation for the systemic debt creation and currency debasement that fuel today's inflation and inequality.

Doubling taxes on billionaires won't solve the struggles of the middle class. The core problem is inflation, fueled by government spending, which erodes savings faster than they can be earned. This creates an immoral system that punishes saving and incentivizes speculation or political extraction.