4 ms·
I remember for me during 2008 I finally understood how NOTHING has intrinsic value, it’s always about what others perceive in the market. Real estate, dollars,
by nytesky 6y ago
I remember for me during 2008 I finally understood how NOTHING has intrinsic value, it’s always about what others perceive in the market. Real estate, dollars, gold, stock all arbitrary in a way I never considered. All built on sand.
- jimbokun 6y agoWith real estate, you may have a place to sleep even if it's market value goes to 0.
- rightbyte 6y agoYe many things has intrisic value. If your house is worth (about) zero it is probably on some cliff about to fall into the sea or there is posion in the ground, though.
- deleted 6y ago[deleted]
- mlyle 6y agoSome things have utility distinct from what people are willing to pay for them. My cheeseburger with one bite out of it has a market value of 0.
- Layke1123 6y agoHa ha I love this comment. So simple and yet illustrates the point exactly. Although if I were starving and you said I could have it for one dollar and I wouldn't be able to eat for the next 72 hours, you'd probably have my dollar.
- FabHK 6y ago> NOTHING has intrinsic value. [...] All built on sand. That's... just not true? Many things have non-arbitrary value. You need dollars to pay taxes. You need real estate to sleep and work. You can make pretty things that last a long time from gold.