Economic Meltdown 2010

[william the wie]

I think what you are referring to as monetized wealth is too limited. In a boom stocks, bonds, mortgages and a great deal else becomes part of the money supply. George J. W. Goodman writing as "Adam Smith" popularized this view in "The Money Game", "Supermoney" and "Paper Money" back in the 60s, 70s and 80s boom and bust. Economists prefer to talk about wealth effects because figuring out the transition points of wealth to money and back again is a bear. Sometimes 100 shares of AT&T is money sometimes it isn't it's just an asset. Think of assets being ice, money being water and steam being write downs as a quick read but those Adam Smith books are available at the library and do a much better job of explaining.

 

[Terral]

Hi William:

I think what you are referring to as monetized wealth is too limited. In a boom stocks, bonds, mortgages and a great deal else becomes part of the money supply ...

I agree with this guy:

[ame=http://www.youtube.com/watch?v=8zkZ5hm7sE8]The U.S./Global Economies Are IMPLODING[/ame]

GL,

Terral

 

[georgephillip]

The First Thing We do is Kill All the Speculators.