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We do not have a rational monetary system, so expecting rational valuations in the terms of that system is not rational. What is the present value of any reven
by vearwhershuh 7y ago
We do not have a rational monetary system, so expecting rational valuations in the terms of that system is not rational.
What is the present value of any revenue stream if you think that interest rates are going to be negative in real terms for the foreseeable future?