Thread: Money
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Old 10-12-2008, 09:26 AM
BigLew BigLew is offline
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Join Date: Jan 2007
Location: Newburyport Area; Massachusetts
Posts: 1,364
Default Re: Money

The simple answer is that it just disappeared. It didn't "go" anywhere.

Think of it as lost value. A house that would normaly sell for 200K is found to be located on top of a toxic waste dump site- its market value goes to nothing. The cash didn't go anywhere, the fair market value just changed.

This is much like the $10 trillion loss of wealth in 2001 when the NASDAQ went from 5000 to 1200. Nobady ever mentions that little recognized fact!
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