How does paper wealth differ from real spendable money during a bubble?
Replied byRay Dalio
Founder at Bridgewater Associates
Niche: Finance
Revenue: Not Publicly Disclosed/month
Location: Westport, Connecticut, United States
Started: 1975
Wealth is not the same as money. You cannot spend paper wealth; you must sell your assets to get cash to buy goods. When everyone tries to sell their assets simultaneously to raise cash, the price plummets, revealing that the paper wealth was temporary.
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