

Deep in human history, staying in good graces with our tribe was more important to survival than having beliefs be factual. We are genetically hardwired to pull whatever mental gymnastics are required to maintain membership in the tribe, because our ancestors who failed at that died before passing on their genes. It’s not really stupidity or incompetence, it’s an operating system property.
If it’s representing value produced by a population, and that population is both growing in numbers and finding ways for each person to be more productive, it makes sense for the index to go up. The current drop in stock markets is not related to either population decline nor to some widespread productivity hit, meaning sustainability isn’t the problem at hand.