Comment: No, no, no. You're mincing

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In reply to comment: That's a good explanation (see in situ)

No, no, no. You're mincing

No, no, no. You're mincing words and throwing in additional concepts. I'm just explaining the way the phenomenon of interest(time preference) effects economic calculation.

I'm not talking about "other factors considered", such as inflation, I'm not talking about any objective market price.

All value is subjective, and differs with the same individual at different times, and with different individuals at the same time. Value is, in no way based on our labor. It is based on the subjective valuation of our customers.(Our labor is simply another product, and our boss is our customer)

Our time has value. The "price" for waiting is termed "interest".

What I'm talking about is the ONE SOLE CONCEPT that enabled Ron Paul to predict the crash. It's just one phenomenon of human action that allows accurate economic calculation. There are certainly others.

"I do not add 'within the limits of the law,' because law is often but the tyrant's will, and always so when it violates the right of an individual."