garfaagel@sh.itjust.works to Today I Learned (TIL)@lemmy.ca · edit-211 months agoTIL that in 2010 the stock market experienced a flash crash, caused by automatic trading. Over a trillion dollars were lost and mostly regained, all in 36 minutes. Exact causes remain disputed.en.wikipedia.orgexternal-linkmessage-square30fedilinkarrow-up1337arrow-down15
arrow-up1332arrow-down1external-linkTIL that in 2010 the stock market experienced a flash crash, caused by automatic trading. Over a trillion dollars were lost and mostly regained, all in 36 minutes. Exact causes remain disputed.en.wikipedia.orggarfaagel@sh.itjust.works to Today I Learned (TIL)@lemmy.ca · edit-211 months agomessage-square30fedilink
minus-squareDark_Blade@lemmy.worldlinkfedilinkarrow-up4·edit-211 months agoYou see, the problem with your argument is that stock isn’t money, it’s an asset. While you can call the asset itself bogus, the money backing it is ‘real’; that’s why entire life savings can be wiped out if the market suddenly goes ‘kaput’.
minus-squaresnooggums@kbin.sociallinkfedilinkarrow-up1·11 months agoSo you are also saying that stocks are not real dollars. Glad we agree.
minus-squareDark_Blade@lemmy.worldlinkfedilinkarrow-up3·11 months agoStocks aren’t money to begin with, they’re an asset class. The money invested in stocks is as real as any other dollar though.
You see, the problem with your argument is that stock isn’t money, it’s an asset. While you can call the asset itself bogus, the money backing it is ‘real’; that’s why entire life savings can be wiped out if the market suddenly goes ‘kaput’.
So you are also saying that stocks are not real dollars. Glad we agree.
Stocks aren’t money to begin with, they’re an asset class. The money invested in stocks is as real as any other dollar though.