Yeah, but if these people were truly masters of long-term thinking, they wouldn’t be spending all their time ruining the economies upon which their wealth is predicated.
Up to a point yes. However, if the majority of your ‘wealth’ is not liquid and bound up in a stockmarket that no longer exists, you’re going to have a hard time leveraging it. Similarly, what liquid wealth you have is only as valuable as the form it takes. Your dollar bills in a hyper-inflationary scenario is going to have more values as toilet paper than as a means of exchange, and your gold is no good if there are no one around willing to exchange anything for it. You can eat gold, but the nutritional value is somewhat dubious.
Quit licking boots. You think banks will stop loaning money to musk if Tesla stock crashed? Trump has been bankrupt multiple times, it’s a big club and you ain’t in it.
Yeah, but if these people were truly masters of long-term thinking, they wouldn’t be spending all their time ruining the economies upon which their wealth is predicated.
You say that, but if you have a large cache of cash, economic crashes are just opportunities to buy assets at a bargain.
Up to a point yes. However, if the majority of your ‘wealth’ is not liquid and bound up in a stockmarket that no longer exists, you’re going to have a hard time leveraging it. Similarly, what liquid wealth you have is only as valuable as the form it takes. Your dollar bills in a hyper-inflationary scenario is going to have more values as toilet paper than as a means of exchange, and your gold is no good if there are no one around willing to exchange anything for it. You can eat gold, but the nutritional value is somewhat dubious.
Quit licking boots. You think banks will stop loaning money to musk if Tesla stock crashed? Trump has been bankrupt multiple times, it’s a big club and you ain’t in it.