Back in the 1970s there were no credit cards. If you wanted credit you bought “90 days same as cash.” By the late 70s there were store credit cards, Sears for example was a big one.
Back in the 1970s there were no credit cards. If you wanted credit you bought “90 days same as cash.” By the late 70s there were store credit cards, Sears for example was a big one.
What’s wrong Sally? Getting scared? Your 10% equity returns will be there if you live long enough. How’s age 142?
Ghost of Igloi wrote:
Back in the 1970s there were no credit cards. If you wanted credit you bought “90 days same as cash.” By the late 70s there were store credit cards, Sears for example was a big one.
Not true. I got my first credit card in the 1970s. Master Charge, I believe. Used it to buy a color tv. Big time.
Ghost of Igloi wrote:
What’s wrong Sally? Getting scared? Your 10% equity returns will be there if you live long enough. How’s age 142?
The market is barely down now. Igy -check back in July when the Dow up around 29,200.
Gruntz wrote:
Ghost of Igloi wrote:
Back in the 1970s there were no credit cards. If you wanted credit you bought “90 days same as cash.” By the late 70s there were store credit cards, Sears for example was a big one.
Not true. I got my first credit card in the 1970s. Master Charge, I believe. Used it to buy a color tv. Big time.
OK, whatever...
Sally Vixxxxxxens wrote:
Ghost of Igloi wrote:
What’s wrong Sally? Getting scared? Your 10% equity returns will be there if you live long enough. How’s age 142?
The market is barely down now. Igy -check back in July when the Dow up around 29,200.
Let’s do that. Mark the first business day in July for a review.
Ghost of Igloi wrote:
Sally Vixxxxxxens wrote:
The market is barely down now. Igy -check back in July when the Dow up around 29,200.
Let’s do that. Mark the first business day in July for a review.
Sounds good! We will check on the Hussman fund at the same time to see if year-to-date it is still down quite a bit (as if there was any question). LOL.
Ghost of Igloi wrote:
Back in the 1970s there were no credit cards. If you wanted credit you bought “90 days same as cash.” By the late 70s there were store credit cards, Sears for example was a big one.
BankAmericard was available beginning in the late 1950s.
agip wrote:
Giles Corey wrote:
The union busting 1980s, the sell-out of the Dems to the monied interests under Clinton, the outsourcing of manufacturing to 3rd world nations.
Yeah right. The Middle Class is much better off now
I don't feel like fighting this fight again but there is virtually no number that shows that living standards in the 1970s were higher than they are now. It's a fantasy of wrong memories, misunderstanding of economics and the human inclination to ALWAYS believe that the past was better than the present.
You can reply all you want - I refuse to get into this again because there is absolutely no validity to what you are seem to be saying, and nothing I could ever say would change your mind.
Denial runs very deep with this one.
Our mfg base was not outsourced? Housing, health, college cost have not exploded since the 70s? Unions have not been whittled down? The Dems are not a party of the rich?
Do you have any actual facts, stats, logical argument to support your view? Anything at all? Other then assertions and whining about how you cannot change my mind? Maybe you could if you actually provided a single reason why I should.
You may want to look at the the distribution of wealth in the United States over the past seven decades.
Ghost of Igloi wrote:
Gruntz wrote:
Not true. I got my first credit card in the 1970s. Master Charge, I believe. Used it to buy a color tv. Big time.
OK, whatever...
See Igy, there’s that dismissiveness. What’s up?
In 1976, five of our immediate neighbors had credit cards. 3 used them for travel instead of traveler’s checks, and 2 used them mostly for business, IIRC.
he broad facts of income inequality over the past seven decades are easily summarized:
The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity.
Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted terms between the late 1940s and early 1970s.
The gap between those high up the income ladder and those on the middle and lower rungs — while substantial — did not change much during this period.
Beginning in the 1970s, economic growth slowed and the income gap widened.
Income growth for households in the middle and lower parts of the distribution slowed sharply, while incomes at the top continued to grow strongly.
The concentration of income at the very top of the distribution rose to levels last seen nearly a century ago, during the “Roaring Twenties.”
Wealth — the value of a household’s property and financial assets, minus the value of its debts — is much more highly concentrated than income. The best survey data show that the share of wealth held by the top 1 percent rose from 30 percent in 1989 to 39 percent in 2016, while the share held by the bottom 90 percent fell from 33 percent to 23 percent.
Maserati wrote:
Ghost of Igloi wrote:
OK, whatever...
See Igy, there’s that dismissiveness. What’s up?
In 1976, five of our immediate neighbors had credit cards. 3 used them for travel instead of traveler’s checks, and 2 used them mostly for business, IIRC.
That’s how he rolls. If you dare to disagree with him - even when he is clearly wrong - you will be insulted, dismissed, marginalized, etc. He is a Trumpkin in every sense of the word.
Fact checker wrote:
Ghost of Igloi wrote:
Back in the 1970s there were no credit cards. If you wanted credit you bought “90 days same as cash.” By the late 70s there were store credit cards, Sears for example was a big one.
BankAmericard was available beginning in the late 1950s.
OK. Generally most people did not use credit cards at that time. I bought our first color television in 1982 when my wife started teaching. We used a Sears Card for things around the house. Bought washer and dryer “90 days same as cash.”
Maserati wrote:
Ghost of Igloi wrote:
OK, whatever...
See Igy, there’s that dismissiveness. What’s up?
In 1976, five of our immediate neighbors had credit cards. 3 used them for travel instead of traveler’s checks, and 2 used them mostly for business, IIRC.
OK. Don’t remember if they were available in small town Kansas. Perhaps. I will defer to you and the troll.
Gruntz wrote:
Maserati wrote:
See Igy, there’s that dismissiveness. What’s up?
In 1976, five of our immediate neighbors had credit cards. 3 used them for travel instead of traveler’s checks, and 2 used them mostly for business, IIRC.
That’s how he rolls. If you dare to disagree with him - even when he is clearly wrong - you will be insulted, dismissed, marginalized, etc. He is a Trumpkin in every sense of the word.
“Before the computerization of credit card systems in America, using a credit card to pay at a merchant was significantly more complicated than it is today. Each time a consumer wanted to use a credit card, the merchant would have to call their bank, who in turn had to call the credit card company, which then had to have an employee manually look up the customer's name and credit balance. This system was computerized in 1973.”
Of course this dope has bring Trump into the conversation. Here is more actual information that is relevant to my point.
“Only 6% of U.S. families had a bank-issued credit card with a revolving balance in 1970,”
Gruntz guy was living just like Trump.
?
Ghost of Igloi wrote:
Of course this dope has bring Trump into the conversation. Here is more actual information that is relevant to my point.
“Only 6% of U.S. families had a bank-issued credit card with a revolving balance in 1970,”
Gruntz guy was living just like Trump.
?
Thanks for proving my point yet again.
Only thing I proved is you are an obsessed turd.
Sally Vixxxxxxens wrote:
The market is barely down now. Igy -check back in July when the Dow up around 29,200.
Very true. It's a small correction. Guy told me today market crashing because of coronavirus. What crash? It's barely down from all time highs.
I think tomorrow will be up. Not as good a rally as before. I think the Robinhood people are getting tired of chasing rally's and getting burned. Bad news released after 3pm when markets closed? Seems like the trend. Staying on the sidelines.