Duke of Marmalade
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Gerry, I think I see where you are coming from. Certainly if everyone decided to spend all their money over the next few months the economy could not possibly deliver at these prices. However in balance sheet terms the money is backed by the enormous pool of human and non human capital. It is a question of the timing of the exchange of the monetary claims for the fruits of this capital.
Think of the typical graduate fresh from uni - not a bean in the world but enormous human capital. Over the next 40 years or so she will give of this capital in exchange for her little pile of monetary claims.
Hey, it works, don't ask too many questions.
Think of the typical graduate fresh from uni - not a bean in the world but enormous human capital. Over the next 40 years or so she will give of this capital in exchange for her little pile of monetary claims.
Hey, it works, don't ask too many questions.