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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: neolib who wrote (91036)10/1/2007 5:57:48 PM
From: Elroy JetsonRead Replies (1) of 306849
 
So you're suggesting that ownership of real estate or commodities be the substitute for savings accounts in your desert island economy.

Already your desert island economy is sliding back into a system of barter.

Pre-Monetarist economists call this a "crack-up boom" where a loss of confidence in the currency triggers a flight into "tangible goods." This typically precedes an economic collapse.

This is why only a stable currency can facilitate the long-range planning and investment necessary to the normal functioning of capitalism.
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