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I generally don’t post on current events, but I found this article fascinating, about where all the money in the recent stock market decline went:
Robert Shiller, an economist at Yale, puts it bluntly: The notion that you lose a pile of money whenever the stock market tanks is a “fallacy.” He says the price of a stock has never been the same thing as money — it’s simply the “best guess” of what the stock is worth.
“It’s in people’s minds,” Shiller explains. “We’re just recording a measure of what people think the stock market is worth. What the people who are willing to trade today — who are very, very few people — are actually trading at. So we’re just extrapolating that and thinking, well, maybe that’s what everyone thinks it’s worth.”
OK, it’s been WAY TOO LONG since I’ve posted regularly. Time to get back on track. But first… a big bunch o’ links.
Great general observation on apologetics from Terry Delaney, reviewing Nathan Busenitz’ Reasons We Believe:
As with any apologetics book, it must be noted that one cannot argue another person into heaven. One must be careful when reading resources like this or else they will become head-strong and heart-weak. What I mean by that is that it is one thing to read a book like Reasons We Believe to bolster one’s faith. It is something entirely different to read in order that you may win more arguments.
