To point 4 and inflation, the trick is to not invest in commodity futures (where the deflationary pressures of improved production technology cancel some of the inflationary pressures of currency devaluation) but rather assets. You can invest in the S&P 500 and achieve ~11% nominal returns. Now whether asset prices are relevant to “inflation” is dependent upon whether you are trying to answer the question of “how many apples could I buy for a dollar in 1960 versus today?” or the question “how many apples could I buy for a dollar today if they were produced with the same inputs and technological process as they were in 1960?”
To point 4 and inflation, the trick is to not invest in commodity futures (where the deflationary pressures of improved production technology cancel some of the inflationary pressures of currency devaluation) but rather assets. You can invest in the S&P 500 and achieve ~11% nominal returns. Now whether asset prices are relevant to “inflation” is dependent upon whether you are trying to answer the question of “how many apples could I buy for a dollar in 1960 versus today?” or the question “how many apples could I buy for a dollar today if they were produced with the same inputs and technological process as they were in 1960?”