161 karma · joined March 23, 2015
Same applies to the current student loan crisis too.
https://www.yours.org/user/riversandmountains/
> Counterpoint: Galbraith confidently called the US stock market a "classic bubble" in April, 1999. At that time, the Dow Jones was at 10,494. Today it's at 24,504.
No! Current day valuation versus 1999 valuation has nothing to do with each other. In 1999 the market was over valued and the bubble soon popped.
> > Assets need to be productive in order to be true investments
> Counterpoint: Maybe assets need to be useful to have value. Land, copper, the balance on a Walmart gift card and my World of Warcraft gold don't produce anything, but they're useful, so they have value.
The key difference between an asset and investment is that investments produce returns.
Every time I think of this, this plays out in my head: "Sorry sweetie, I love you but hate diamonds more. I'm not going to buy you a sweet ring to show off to all your friends. Will you marry me anyway?"