[ExI] economic parableRe: Sudden outbreak of democracy baffles US pundits
sjatkins at mac.com
Sun Oct 12 18:30:29 UTC 2008
On Oct 7, 2008, at 2:15 PM, The Avantguardian wrote:
> --- On Tue, 10/7/08, Stathis Papaioannou <stathisp at gmail.com> wrote:
>> How does getting information in seconds rather than hours
>> or days, as
>> in the 1920's, prevent a depression?
> Because the distinction between money and information is becoming
> blurred. The wealth that the U.S. recently lost never really existed
> to begin with except in people's minds. Consider the following
Not quite. That wealth "in their minds" could be exchanged with
others to satisfy needs and desired and invested to create more of
this "mind stuff". It is no less real for being computerized and
there is no less loss.
> I doubt either bull or bear markets will last for more than a year
> or two nowadays, but there is occasionally *real* wealth added to
> the economy and that does steadily grow with time. And the real
> wealth is not affected by delusions of poverty or prosperity.
Yeah right. Tell it to the folks in the bread line.
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