Quote:
Originally posted by Jamie79SC
.. ..if not my wealth, then certainly the wealth of my children. .. ..
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See, I don't get that.
The whole point of the Greenspan quote is that "wealth" can not be (over time) defined by #of dollars. . .. dollar value is only based on a value at a specific point in time.
The "wealth of your children" willl be largely based on the infrastuctre left by our efforts .. . not on how many deflated/inflated dollars are left. (that is a ruse)
That is; will they enjoy a cure to cancer, altzimers. . . Will they have a commercial structure that allows them to prosper in the world market-place. Will they be able to travel from Seattle to London in a couple of hours ... Energy availability; management, extraction & conversion costs...
A "lauk Baux" approach shows a foolish understanding of the current
currency.
