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Once investing was disconnected from P&E, you are absolutely correct.

The market is just gambling at this point the company can hype their stock.

>Stonks go up, we just like the stonk

while that's true, it's not black and white. The invested asset produces output. This output is useful, and speculative demand of that asset will, in normal circumstances, produce more of that output due to the pressure to increase the number of those assets.

Housing is not different. Except that there are some people who would prefer to limit the builds of new housing.

Capitalism is the problem, then?

That is what that is. Establish ownership (of capital), exploit that ownership.

Capitalism in a nutshell.