Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (1373)	2/27/1999 10:39:00 AM
From: Freedom Fighter	Read Replies (1) of 1722

>>Yet, once past savings become the only basis for current investment, most of us better head back to subsistence farming on the ole plantation -- because that "cross of gold" will leave few of us with any money to exchange for food, clothing and shelter. << I think that is a subject that is open for debate. I wish I had the data and a more complete understanding of all the issues. Unfortunately, no one does. That's why there's still a debate. But the questions are simple. Does that portion of investment that does not come from profit and savings but "fiat credit creation" produce higher standards of living? If it causes busts, does the eventual use of those investments represent a vindication of "fiat credit" or just time passing and new real savings accumulating and growing into their use? (the only result of "fiat credit" then is inflation, the resultant miscalculation and recession) If it does contribute to some increase in overall standards of living, is it enough to make the business cycle of boom, inflation, bust worth living with for those who are always on the short side of that process? (which is most) Wayne

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