tag:blogger.com,1999:blog-3758330678390419129.post5629237964196374403..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: U.S. Wealth Fell 38.8% In 2007-2010 On HousingRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-3758330678390419129.post-70207958318447453392012-06-12T17:31:21.681-04:002012-06-12T17:31:21.681-04:00you are an idot. Of course I increased my net wor...you are an idot. Of course I increased my net worth. Gold is a store of value and preserves wealth. However, over time gold increases in purchasing power. In addition, because the market is so distorted, it didn't just preserve wealth, it increases it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-1806201361299692852012-06-12T14:07:21.254-04:002012-06-12T14:07:21.254-04:00It's actually much worse than that. The 39% lo...It's actually much worse than that. The 39% loss of net worth is in nominal dollars. It doesn't account for the significant loss of purchasing power of those dollars.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-37649199375973055242012-06-12T11:42:23.955-04:002012-06-12T11:42:23.955-04:00Be that as it may, the loss in wealth occurred wit...Be that as it may, the loss in wealth occurred with the malinvestment was formed, not when it was revealed.Jonathan Finegold Catalánhttps://www.blogger.com/profile/16710256011291680376noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-48506087024744712912012-06-12T06:27:52.338-04:002012-06-12T06:27:52.338-04:00JFC, we can call the prices artificially high (lik...JFC, we can call the prices artificially high (like you, I think they were) but what we call them doesn't matter. What matters is that people paid those prices, meaning that they were a very real high from which people have had very real losses. So it is right to count loses from those highs. The growth is fake, but the damage is real.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-62670408669363233392012-06-12T05:07:59.698-04:002012-06-12T05:07:59.698-04:00Anonymous @ 10:07 PM - you didn't increase you...Anonymous @ 10:07 PM - you didn't increase your net worth, you simply preserved it. Gold is money, not an investment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-12349792209940212592012-06-12T03:58:50.436-04:002012-06-12T03:58:50.436-04:00The problem, of course, is not the subsequent loss...The problem, of course, is not the subsequent loss in wealth (although, to be sure, public policy has retarded/impeded the recovery), but the original inflation of the relevant assets. So, it's not exactly right to measure the fall in wealth from a point during which relevant prices were artificially high.Jonathan Finegold Catalánhttps://www.blogger.com/profile/16710256011291680376noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-64784549066802176952012-06-11T22:15:57.192-04:002012-06-11T22:15:57.192-04:00I was making high six figure income until 2010 and...I was making high six figure income until 2010 and then the bottom fell out (we are talking high 5 figs). My comp is back somewhat at about 60% of what it was before the crash. I am busting my butt trying to make this a good year given all the tax hikes coming, but its looking to be average, which I am not complaining given the times we live in. I have cut, cut, cut to adapt to the lower amount Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-47337773359661342942012-06-11T22:07:36.381-04:002012-06-11T22:07:36.381-04:00I increased net worth... Precious metals. What ...I increased net worth... Precious metals. What idiots. As soon as I read what has government done to our money I went out and bought as much gold and silver as I could afford.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-5266837732044180812012-06-11T20:25:34.650-04:002012-06-11T20:25:34.650-04:00http://www.bloomberg.com/news/2012-06-11/disinflat...http://www.bloomberg.com/news/2012-06-11/disinflation-momentum-hitting-u-s-rosenberg-says-tom-keene.htmlAnonymousnoreply@blogger.com