Quote:
Originally Posted by BV
When someone loses, someone else gains.
So who gained?
no one
it was all imaginary wealth we lost folks.
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Tell that to the 75 year old guy living off of his 401(k), or the guy nearing retirement who now has to work 5 more years because 10% of his life savings was wiped out.
I put $8000 in cash into my and my wife's IRA this year, now what's left of that is more like $7000. That's not imaginary money.
The problem is in your theory that if someone loses that someone else gains. That's not true, economics is not a zero sum game.