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To: straight life who wrote (16137)	10/7/1998 8:14:00 PM
From: Sawtooth	Read Replies (1) \| Respond to of 152472

*OT*<<Perceptions change. Wealth is destroyed.>> I think you pegged it, Taichi; we'll agree wealth and money are different, and wealth is a matter of relativity and perception. As in tulip bulbs, or barley corns, or cabbage patch dolls, or ... . Now we better not get started on "wealth" not based on typical assets, as in "The wealthiest man is the one who has little and desires less". Best.

To: straight life who wrote (16137)	10/8/1998 4:39:00 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 152472

Well, this has hit a hot spot. I'm not going to let it go just yet. Taichi, the current destruction of perceived value is not just oil, tulips, silver, hula hoops, ostrich feathers, radio frequency, ocean liners, hydrogen filled dirigibles, or any other single commodity which can indeed drop in price at short notice with or without a huge boom beforehand. The current drop is on EVERYTHING. On your theory, ALL value in human things has dropped heavily. But this drop is not a change in value perception, it is a monetary impact. People haven't given up wanting cars, holidays, hotels, restaurants, cellphones, tulips and nearly everything all at once. This discussion started because money and share prices were getting confused. Krugman was talking about serial and parallel stupidity. Money is like an elastic band, but the only one who can stretch it is Green$pan. Money and share prices are NOT the same thing. Wealth is neither money nor share price, it is productive capacity. Those who own or get the products from the productive capacity have wealth. If you own money, you own a claim on the productive capacity, which isn't quite the same thing as owning the productive capacity, as those with wheelbarrows full of marks discovered some decades ago. Okay, I'm abandoning the discussion. I declare me to have the True Word. Now, I better lay claim to some money, wealth, stocks, groceries, land, peace of mind or some damn thing. Mqurice