DIYbanter - View Single Post - American Personal Wealth Down 40% In Last 5 Years - Why AreRight Wing Americans So Lazy And AntiCapitalist?

Ignoramus30024

On 2013-12-28, wrote:
On Saturday, December 28, 2013 10:56:57 AM UTC-5, Lee Westwood wrote:

I see that you are ashamed of your post and want it removed in six
days. Well I would be ashamed of posting off topic stuff in
Rec.Crafts.Metalworking. and never posting anything on topic.

And then you post lies because the housing market is up and the
stock market is up, and yet you say personal wealth is down 40 % in
the last five years. Since my personal wealth is up over the last
five years , I can not take you seriously.

Dan, it is not quite so simple.

It is not crazy to add up the value of your stocks and other assets to
calculate your "personal" wealth.

It is, however, almost crazy to think of a country's total wealth in
terms of how much its citizens are willing to pay for assets that they
trade with one another.

For illustration, imagine that the ony two people living in an
imaginary country is you and me. We both own shares in the only farm
and the only bakery.

We trade shares in both enterprises. I happen to be a moody person and
pester you with offers. Some days I offer you a lot for your shares,
and some days, when I am in a bad mood, very little.

Would you think that your wealth changes daily, based on my whims? I
think that as a smart person, you would not. Our combined wealth lies
in how much we can grow on a farm and bake in the bakery. You can, of
course, take advantage of my mood swings and in the end you will own a
greater share of these enterprises. But their total value is only
tangentially influenced by the prices I am quoting to you daily.

Same applies to a nation. Our total wealth, defined as ability to
produce goods and services, changes comparatively little since 2009.
But the markets have been on a wild ride.

So what metalworking bave you been doing?

cut a thumb with a drill press

i