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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (5472)5/3/2004 3:41:04 PM
From: TH  Read Replies (2) | Respond to of 116555
 
Jim,

Excellent. I have been looking for this exact quote, as I want to save it forever (or at least until someone can explain it to me).

"Now, one can argue whether or not the market values that are placed on claims on physical assets are high or low, remember that all judgments of wealth essentially are discounted values of forward expected returns."

That is in the top five all time classic Greenspeak.

Thx

TH



To: Jim Willie CB who wrote (5472)5/3/2004 5:21:40 PM
From: yard_man  Respond to of 116555
 
it is interesting that he chose to turn from housing to a steel plant in the discussion -- there's a tacit admission there:

NO -- increased housing prices aren't necessarily real wealth -- it is transitory wealth -- wealth, only as calculated for the moment. Yeah, you could say that about almost anything.

That was really a good answer by Greenie -- he didn't lie --he just didn't say anything useful or take any responsibility. Greenie 2 : Ron Paul 0. Next ... <VBG>


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