Tesla prices increased across its entire model range
Lexus Fanatic
Joined: Sep 2010
Posts: 25,917
Likes: 4,274
From: Alberta
because it does not meet the definition of stock or cash. It is an intangible asset. Thus :
”As intangible assets, digital assets are initially measured at cost. They are treated as indefinite-lived intangible assets - Asset Practice Aid):
As a result, the indefinite-lived intangible asset should not be amortized and should be tested for impairment annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is
impaired. In practice, this impairment testing has been interpreted to mean that digital assets should be impaired to the lowest fair value observable within a period. Impairment losses are presented in net income and not reversed”
”As intangible assets, digital assets are initially measured at cost. They are treated as indefinite-lived intangible assets - Asset Practice Aid):
As a result, the indefinite-lived intangible asset should not be amortized and should be tested for impairment annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is
impaired. In practice, this impairment testing has been interpreted to mean that digital assets should be impaired to the lowest fair value observable within a period. Impairment losses are presented in net income and not reversed”
Lexus Champion
Joined: Oct 2019
Posts: 17,914
Likes: 1,702
From: Ohio
2008 was a different animal. Mortgage loans were being given out like candy to people who clearly couldn't afford a house with zero down payment, when ARMS reset, people just walked away from their properties like it was an apartment. Whole blocks were abandoned, the houses sat empty or with squatters for years. This is not the same. Won't be nearly as bad and economy will recover much quicker
I think it will be far worse.
Lexus Champion
Joined: Oct 2019
Posts: 19,487
Likes: 3,672
From: California
I don't want to turn this into a conversation on the economy (we could take that to PM), but this is totally not the same situation as 2008. The economic problem in 2008 was caused several factors including greedy companies like Enron, easy access to mortgages, and companies investing their employees pensions in Mortgage default swaps. Imagine a small California Central valley City like Modesto where a house was $30K being sold for $600K to someone who made $11 an hour. After a few years when that person's interest only ARM reset, they just either lived there not paying their mortgage or walked away. Now multiply that by millions of people and houses all over the US. Since those days, it is very difficult to get a mortgage, you have to meet income requirements, put down down substantial down payments in most cases. At this point, employment is high, companies are doing relatively well. Yes, there is inflation and yes there will be a recession no doubt, but it's not going to be anything like 2008 where millions of homes went into foreclosure
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