...stock market crashes don't destroy money (they just redistribute it).
Source needed.
Stock market crashes absolutely destroy money by any reasonable definition of the money supply.
Source needed.
Stock market crashes absolutely destroy money by any reasonable definition of the money supply.
If I have $100 and I buy a stock worth $90 from you, there's $100 in the economy.
If the stock goes up to being worth $110, there's still $100 in the economy.
If the stock goes bust, there's still... $100 in the economy.
Mind sharing that definition? I don't see that quite squaring with this: https://en.wikipedia.org/wiki/Money_supply#Empirical_measure...