Re: Cost Whiners

["Payton Byrd" <plbyrd@bellsouth.no.spam.net>]

"Mike Spurgeon" <mike@spurgeon.net> wrote in message 46112038.6030209@spurgeon.net">news:46112038.6030209@spurgeon.net...
> Payton Byrd wrote:
> 
>> If a PET goes for $1700 on eBay, then that's what that PET was worth.
> 
> A little Econ 101 would help.
> 
> It's what it was worth to *that buyer*...

If that was a case we wouldn't have a stock market.  The stock market's whole premise is to set and track the value of a share of stock of each listed company.  If I pay X, and you are willing to pay X+1, then the new price is X+1 and the index goes up.  If you can't sell it at X+1, then the stock becomes devalued to X-D where D is the devaluation of the stock.

The point is that you can't whine about a stock being $100 a share when you think it should be $20.  The same holds true for every other product in a capitalist society.