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I said losing money doesn't destroy wealth. Destroying a city absolutely does.
by fallingknife 3y ago
I said losing money doesn't destroy wealth. Destroying a city absolutely does.
- gchamonlive 3y agoI was talking about catastrophic events and how it can make you lose money without necessarily transfering it. In the case of wework, the catastrophe is the rapid decline in inflated prices, which makes the assets lose value without a real transfer in wealth.
- pessimizer 3y ago> the catastrophe is the rapid decline in inflated prices Using the word "catastrophe" to describe a financial process not going in one's favor doesn't actually turn it into a natural disaster that physically destroys objects.