Alternatively: the bubble is inflated with wealthy oil sheiks’ money, and transferred to upper middle class workers.

Edit: a word

US pension funds together are worth $22 trillion. This is 61% of global pension funds and much much larger than the Saudi funds. They should invest a small part into Vision Funds and other VCs!

not so sure i would call this frozen:

https://www.aranca.com/assets/uploads/articles/images/01_Num...

note, the 2017 figure is the first half compared to full years.