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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 413.19+1.1%Jan 6 4:00 PM EST
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To: TobagoJack who wrote (37906)8/4/2008 8:22:19 AM
From: elmatador   of 219059
 
I've just seen the light! what's been borrowed is not wealth. Losing what it's been borrowed is not wealth destruction.

Say, you've bought a house 0 DP. Paid a a few months and then defaulted and house was repossessed.

Can't call that wealth destruction. The guy has just paid monthly payment in lieu of renting.

See if the guy had paid DP of 30%, and had paid monthly, it means he had stored wealth as brick and mortar.

But if he paid nothing for a good, and then that good is retaken, what he's actually paid was simply the benefit of the use said good.

CONCLUSION: AG didn't created wealth when he doled out USD left and right.

There's no wealth being destroyed. We are having just a reset.
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