You can't invest money in stocks. Every time you transact with stocks, the person who is giving you stocks is getting your money, and so that money is not in stocks.

The only time you "invest" in stocks is during a public offering. And when a company does a buyback, that's a de-vestment. Over the last 20 years there has been more buybacks than stock issuances. The market is running dry.

Deflationary assets are exactly what r > g predict.