Quote:
Originally Posted by fluffygrrl
Yea smartypants, there's a difference between wealth creation and speculation. If at every point when money changes hands, wealth (ie, something desirable) was in fact created, then money keeps (or increases) its value.
If money just merely passes hands, without any wealth being created, money actuyally loses value. It's how inflation is born, and it's why wealth redistribution attempts in the form of money redistribution are bad (as the russians have amply proven with their communinst experiment). This'd also be why theft isn't commonly added to the GDP.
Failure to understand these would, I guess, explain what happened to the US economy past decade.
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sooooo.. domains = tulip bulbs?
Nice try, but your argument is based on a fallacy. Domains have real value and create real wealth beyond the secondary market. Anyone who is making real money in domains is BUYING domains at premium prices and generating ROI, not trying to accumulate capital gains by flipping them in the secondary market.
There is no doubt that a domain trading industry exists (ie the secondary market), but this is not where the smart money is.