Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (24111)	10/12/2002 7:07:13 AM
From: mcg404	Read Replies (1) of 74559

Mqurice: <<it's still true that digging something up at great expense, simply to hide it in another hole at Fort Knox or somewhere as a store of value, is a vast waste of effort... It's better to build factories and useful stuff to act as stores of value.>> And how should we define "useful"? Isn't this entirely a perception thing? To take but one example from the vast universe of electronic toys, the belief that a PDA is "useful" is about as irrational, imo, as a belief in some of that religious stuff. Is a factory to produce a useless PDA any more a store of value than a factory to process ore containing tiny (and useless) amounts of gold? Personally i think both are serving the same "useful" purpose: that fat gold chain swinging around my neck (with the shirt casually left open to expose some virile chest hair) is just as surely a sign of my wealth, sophistication and therefore sexually attractiveness as whipping out that PDA to check the "to do" list. Just different audiences. John

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