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  1. #1
    Member TrueHeart's Avatar
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    Default $1,000,000,000,000 Lost Sep. 28th?

    I do not intend this to be a confrontational inquiry. It's a sincere question. There are a lot of different kinds of folks here, from different backgrounds, and I think it might be better to ask this question on a forum like MBTI Central rather than on one devoted to, say, politics or economics.

    All the talking heads on television here in the USA have been telling us since yesterday evening (Sep. 28th) that "A TRILLION DOLLARS WAS LOST" in the DJIA drop of 700+ points.

    My question(s): in what sense are the words "wealth" and "lost" being used in that statement?
    "There can be no understanding between the hands and the head unless the heart acts as mediator." (Metropolis, 1927)

    [SIGPIC][/SIGPIC]

  2. #2
    Senior Member ptgatsby's Avatar
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    Quote Originally Posted by TrueHeart View Post
    My question(s): in what sense are the words "wealth" and "lost" being used in that statement?
    Wealth should refer to the (stock) capitalization of the shares that make up the index. Lost would mean that their capitalization (ie: total shares oustanding (stays the same) * value of shares) was reduced by that amount.

  3. #3
    More human than human MetalWounds's Avatar
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    Probably left his trillion dollars in his other pair of pants.


    I do it all the time.
    I'm doing science and I'm still alive

  4. #4
    Senior Member Lateralus's Avatar
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    There's no real wealth lost, since stock is just a claim on company assets.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  5. #5
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    Quote Originally Posted by Lateralus View Post
    There's no real wealth lost, since stock is just a claim on company assets.
    You're ignorant. Those claims on company assets were paid with real money.

    The stock price*shares outstanding=value of a company. The US GDP is around 13-14 trillion. 7% of that is 1 trillion.
    I am an ENTJ. I hate political correctness but love smart people ^_^

  6. #6
    Order Now! pure_mercury's Avatar
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    My mother claims to have lost US$13,000 last week, and she owns no stocks outside of her university 401(k), which is administered by TIAA-CREF. That sucks.
    Who wants to try a bottle of merc's "Extroversion Olive Oil?"

  7. #7
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by IlyaK1986 View Post
    You're ignorant. Those claims on company assets were paid with real money.

    The stock price*shares outstanding=value of a company. The US GDP is around 13-14 trillion. 7% of that is 1 trillion.
    It's all imaginary until you have cash in hand.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  8. #8
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    Quote Originally Posted by Lateralus View Post
    It's all imaginary until you have cash in hand.
    It's not imaginary because you GAVE cash FROM your hand to get those securities.
    I am an ENTJ. I hate political correctness but love smart people ^_^

  9. #9
    no clinkz 'til brooklyn Nocapszy's Avatar
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    Quote Originally Posted by Lateralus View Post
    It's all imaginary until you have cash in hand.
    Even then it's imaginary. Damned thing says reserve note.
    we fukin won boys

  10. #10
    no clinkz 'til brooklyn Nocapszy's Avatar
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    Quote Originally Posted by IlyaK1986 View Post
    It's not imaginary because you GAVE cash FROM your hand to get those securities.
    Which can easily be taken away, since it's all just electronic bits in a computer or flammable paper in a file.
    Hence his actual point; until you're holding it yourself, it's not really secure.

    Jeez... Thinking dominant my ass.
    we fukin won boys

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