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   pistolero (p@fsebugoutzone.org)'s status on Monday, 09-Mar-2026 10:57:57 JST pistolero

   in reply to
   @Mammal So your point is that valuation doesn't alter real assets. I don't know what kind of revelation that is. A thing is worth what people will pay for it. $250k isn't any more real than $1m. It's not even worth the paper it's printed on any more because it's not printed on paper any more. You decide how much a dollar is worth by seeing what you can get for it: the house is worth this many dollars because people will pay this many dollars and a dollar is worth this fraction of a house because you can pay this many dollars and get that house. It's not "fake", it's just an abstract measurement of value, one of many. That house doesn't go to $250k until people stop being interested in paying more than $250k to acquire it. The price of oil doesn't make the dollars in your bank account worth more. Oil goes up, your dollars are now worth *less* and that house becomes $10m, not $250k.
   keynesandmisescrashlesson.jpg