I’m clearly no economist so maybe I’m missing something obvious, but I cannot wrap my head around why so many believe that the market is just some sort of fundamental, unchangeable property of the universe that is and always will be. Why do we assume that the dollar will always be valuable?
I could be incorrect, but it seems like there is no guarantee that there will be a rebound after a crash (see: 2008). It more so just seems like parts of capital crumble and become inaccessible to people who once had access, thus causing complete inaccessibility for all who come after.
So, boom and bust seems like the greatest misnomer of all time.
Why the fuck do people call gold a tangible asset. It’s just some dumb metal.
Because its touchable but hard to get large quantities. Aluminum is just a dumb metal but I could fill my backyard with it in short order.
It also likes to stick around without reacting with stuff. Leave aluminum around too long and it starts to turn into dust.