I don't think that it makes a ton of sense to draw an ideological difference between shorting and buying in the secondary market, where buying is 'Investing' and short selling isn't. Both are valid contributors to price discovery. The initial investment already happened, you're not actually adding capital to the company when buying shares on an exchange.

No, NW border of Excelsior is 280, so definitely not north of Monterrey Blvd. Broad strokes neighborhood is Twin Peaks area. That part of Twin Peaks is heavily influenced by historically affluent planned developments. Some of the more well known ones listed here https://en.wikipedia.org/wiki/San_Francisco_Residence_Parks.

I am not familiar with the history of some of the other planned tracts there but this map seems to suggest that area is mostly composed of master planned communities. https://sfrichmondreview.com/2023/01/10/local-author-and-his...

Note that nonfarm payroll is still seasonally adjusted - 156105k vs. 156306k adjusted. The FRED series for NFP with and without sesonality: https://fred.stlouisfed.org/graph/?g=15LPE

> The answer to that more likely has to do with some very broad phenomenon: capital has been accumulating due to increases in energy availability. Human talent (that turns capital into something actual) is plateauing due to slowing of population growth.

> As the world became more stable over time, the default risk also lessened over time

I think these are both saying the same thing from two sides - the default risk going down doesn't really mean anything in isolation. The implied context is the default risk goes down for the same rate of return (or the rate of return goes up for the same default risk).