Anyone refering to market prices generating or erasing money, leave alone value, has serious misconceptions about the economy. Also we need to stop the worship of market capitalization. The market price only reflects the price of currently traded stock. Have someone announce they are going to buy up or dump 20% of any stock and see it flying or tanking.
I mean, yeah, it’s totally imaginary value. But then again, so is all money… The current financial system is a nonsensical house of cards propped up mostly by how bad most everyone wants it to stay standing
Anyone refering to market prices generating or erasing money, leave alone value, has serious misconceptions about the economy. Also we need to stop the worship of market capitalization. The market price only reflects the price of currently traded stock. Have someone announce they are going to buy up or dump 20% of any stock and see it flying or tanking.
I mean, yeah, it’s totally imaginary value. But then again, so is all money… The current financial system is a nonsensical house of cards propped up mostly by how bad most everyone wants it to stay standing
That ‘totally imaginary value’ bought me a new car in January when I was Trump-proofing my life.