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I confess I am ignorant, so I don't know what you are talking about. But, I do not see that many more hard assets (I mean physical... I am sure finance has a t

I confess I am ignorant, so I don't know what you are talking about. But, I do not see that many more hard assets (I mean physical... I am sure finance has a technical definition that has nothing to do with what the intuition of lay people like myself would think) created. It does not matter if there are trillions, quadrillions or quintillions of dollars; if they had to spend it all, they would end up owning the whole planet and still not run out of money. So, it is just a matter of stroking egos and playing con games with using K-9 level math, but with much higher numbers. Ultimately, the only thing that much money is worth is to show that you have much more of it than the next person. It is all about social posturing (or if you are cynical, about manipulating other people by triggering emotional responses to the huge numbers involved).

hglman 11y ago
My guess is its that smart phones are more valuable than the raw materials, or more valuable than a tv, a land line phone, and a hand radio are individually. So not that there are more, that they are more valuable objects.
- crpatino 11y ago
  To some degree, yes. Still, there were cell phones in the 90s. Are the current smartphones that much more valuable than those early mobiles? Remember we are talking about 2 orders of magnitude here. There were also PCs, and with Word Perfect and Lotus 123 you could do almost everything you do today with the latest office suite. At least almost everything of what the average user knows how to do.