Boudreaux proves (again) he hasn’t a clue what the difference is between an asset and an expense is.

October 31, 2012 § Leave a comment

Hint: you can’t speculate by buying property for your own consumption.

“Speculation is the practice of engaging in risky financial transactions in an attempt to profit from short or medium term fluctuations in the market value of a …”

http://en.wikipedia.org/wiki/Speculation

You have to resell to make money, get it?

Buying 1 gallon of gas to drive around with is an EXPENSE. It doesn’t matter what the price is. You’re not going to sell it.

Buying a gallon to sell to someone else is an ASSET. Sell it at a profit and you MAKE MONEY.

Capiche?

http://cafehayek.com/2012/10/stop-the-speculators.html

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