The difference is that foreign investors can buy US stocks thereby keeping the values up (not guaranteed, but it's possible), but the US FedGov can't levy SS payroll taxes on foreign workers.
So the pool of potential buyers of stock is equal to the population of the first world while the pool of SS payroll tax payers is limited to those earning wages in the US.
It seems to me that the last 15 or more years have focused on profits and not value. That is how the management has been motivated and that is why jobs went offshore... for profit.
Profit is not bad but it has not built the value of the stocks by underlying intrinsic value. That is why you invest, to build value.
Double taxation of profits in C corps does not employ capital efficiently or at all.
Stocks have risen because there were so many buyers who did not / do not understand value. Stocks have become merely a bet, an arbitrage and not a value driven proposition. Won’t buyers be looking for value growth?
Just a view point.
Ok but as I understand the pop numbers globally as well as nationally there doesn’t appear to be a first world replacement for the quantity involved ... Though I’m sure the plunge protection team will step in...