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originally posted by: ketsuko
It's partially the QE from the Fed. They are printing money with nothing of worth to back it. What a dollar used to represent, it now takes two or three to equal that same value today. So in reality, even the billionaires are less wealthy in a sense. They just have so much in hard wealth and assets that it doesn't matter - an oil field is an oil field no matter how many dollars in worth they say it is.
This is why my family hangs on to their bit of land with everything they have. Land is land. It won't change even if the dollars behind it do.
This is why the poster up thread is discovering the house is worth so much more than stocks.
That market is only so high because of the funny money pumped into it. It will come down, soon, and hard.
originally posted by: onequestion
a reply to: elfie
Well I guess people who bought property the last few years at rock bottom prices may see a quicker return on investment then probably thought depending in what happens to the markets now after QE is over...
Is that what your saying?
Meanwhile, through self- inflicted wounds, the Soviet Union was setting itself up to lose the Cold War. The narrative that the Soviet Union was somehow laid low by Ronald Reagan makes for a nice story, but it's largely myth. What brought the United States' erstwhile adversary to its knees was, yes, oil— or, more specifically, the way the Soviet Union fatally mishandled its vast petroleum resources. Thanks to a rich natural endowment, oil and gas were profitable for the Soviets. Given that almost everything else in their centrally planned economy operated at a loss, the petroleum industry was the Soviets' lifeline. But they neglected that lifeline by failing to reinvest enough of the profits to increase or even maintain production rates. Instead, they diverted the revenue to support minimum living standards for the public.