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There's not that much wealth in the world
A little-understood fact.
Back in 2022, when stock and crypto prices were crashing, I wrote a post explaining that the wealth that left these assets didn’t actually go anywhere — it just disappeared into thin air: It’s the actual houses, office buildings, roads, water pipes, machine tools, cars, trucks, trains, planes, boats, tractors, harvesters, construction machinery, computers, software, and so on. This would allow us to temporarily increase our standard of living, because we’d be able to spend a lot of extra effort and resources on our consumption instead of on maintaining our machines, our vehicles, our business relationships, our technical skills, our education system, and so on.
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