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Information Junky
Join Date: Mar 2001
Location: an island, upper left coast, USA
Posts: 73,167
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Quote:
Originally posted by island911
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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" will 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. 
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__________________
Everyone you meet knows something you don't. - - - and a whole bunch of crap that is wrong.
Disclaimer: the above was 2¢ worth.
More information is available as my professional opinion, which is provided for an exorbitant fee. 
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05-03-2005, 11:17 AM
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