posted on Jan, 14 2018 @ 08:16 PM
originally posted by: SkeptiSchism
a reply to: seasonal
It's not wealth until you've cashed out and sunk it into something real, property, precious metals, even tools, clothes.
But counting digits in a computer as wealth is ludicrous.
Hate to tell you this, there is not such thing as something "real". Things are only real if someone else wants to buy/trade for it.
As we saw in 2008 houses that are now (2018) worth $170,000 were selling for $30,000 during the coldest days of the bank lead global financial crisis.
Ultimately the market will tell us loud and clear what is "real". I do get what you are saying, there is "useful" wealth, like a farm or large
excavation business with $2,000,000 worth of equipment.
But many many very wealthy people who have never touched their millions or billions believe their digits on their computer is wealth and the world,
for now agrees.