Comment: Re:Solution? (Score 1) 1042
Comment: Re:Just pull the battery out! (Score 1) 383
Comment: Re:Just pull the battery out! (Score 1) 383
Comment: Kidding? (Score 3, Funny) 344
Comment: Digital Camera (Score 1) 569
Comment: Re:One sentence to say it all... (Score 1) 354
Comment: Re:Why did she even bother? (Score 1) 515
An asset is basically anything that is valuable that can be owned. If something can be traded for something else valuable, it's valuable, and if you can own it, it's an asset.
This is why the paper money in your pocket, despite it having little if any intrinsic value, is an asset. This is also why stocks, bonds, directives, and everything else is also considered an asset. And yes, notes and futures contracts and derivatives, even convoluted ones, are assets.
When you are accounting for a loan you've made, you don't list it as a liability, or a source of income, it is an asset, exactly the same as your checking account is an asset. (When a loan payment is made, the "principal" part of the payment is transferred from the "loan asset" and moved to your "checking account" or wallet or wherever. The interest part is, perhaps unsurprisingly, accounted as income that is transferred to your checking account, wallet, or whatever.)
Everything on wall street is owned by someone, and is of tangible value to someone else, and is therefore an asset. That fact that it may be misvalued by any other party or even the party that owns the asset does not change the fact that it's still an asset. If you can think of something that serves as a counter-example, I'd be interested to hear it, but the mere fact that you can't figure out what the underlying value of some contract is, possibly because you can't understand it, doesn't make it any less of an asset.
Comment: Re:Why did she even bother? (Score 1) 515
(I'm referring here to our economy, mind you, not the world of economic make-believe known as Wall Street).
Our government gives fake money to a private bank which is loaned back at interest, distributed and redistributed, and Wall Street, which deals entirely in assets (convoluted and abstracted as they may sometimes be), is the world of economic make-believe?
Sigh...
Comment: Re:80's tech (Score 1) 268
Or rsync'ing a maildir. Seriously, NASA? This was the best you could do?
Government programs for the win...