OT: Re: US IT jobs going overseas creating 'IT Rust Belt'.

[Dave Hull]

On Mon, 12 May 2003 numa at thenuma.com wrote:

> Remember TRILLIONS of dollars were just vaporized almost overnight.  That 
> trillions, in large part, were savings.  It takes time to recover from such 
> a situation.

I'm not an economist, though I did take several econ. classes in college, but 
whenever I see or hear that x amount of money was lost/disappeared/vaporized 
or what have you, when the stock market went down, I think about all the 
investors who prompted that fall. They sold their shares and many of them 
"took profits" or made money on the sale of those shares.

The money wasn't really lost, someone got paid for the shares that were sold. 
I'll grant that there may have been a transfer of wealth and if someone can 
explain it to me like I'm in kindergarten then I might buy that money 
vaporized, but my gut tells me that's not right.

-- 
Dave Hull
http://insipid.com

You're not an alcoholic unless you go to the meetings.