Current direction of futures may test the recent lows, a break there points toward 2,346 low from 12/2018. The 10 Year Treasury testing 0.75%.
Buckle up.
Current direction of futures may test the recent lows, a break there points toward 2,346 low from 12/2018. The 10 Year Treasury testing 0.75%.
Buckle up.
Dow futures in the tank. It will take a heck of a rally to turn things green today. Yes, it has happened before.
What was the original thesis that is being argued by you guys?
Giles Corey wrote:
Racket wrote:
But even America's poor people are wealthier than they've ever been.
Any statistics at all to support this assertion?
You know, stats. Like the stuff I posted about income inequality
No I don't have any. Guess you better go troll up some other thread because we're all stupid here
Maserati wrote:
Dow futures in the tank. It will take a heck of a rally to turn things green today. Yes, it has happened before.
What was the original thesis that is being argued by you guys?
Thesis?
A prediction that there will be a massive crash worse than 2008-2009 in the near future.
The way the govt bailed out and protected the banksters after that crash guaranteed there would be another one relatively soon and that it would be worse this time. The banksters were emboldened.
?♂️
Maserati wrote:
Dow futures in the tank. It will take a heck of a rally to turn things green today. Yes, it has happened before.
What was the original thesis that is being argued by you guys?
there wasn't one. it was just a bunch of canned "America is literally the worst" sh!t that you usually see on Reddit.
Giles Corey wrote:
Wowa there wrote:
Personally I believe that a notable percentage of this is due to overspending. The middle class trying to live like high income individuals, because they are told by marketing that "they deserve it". People buying luxury cars, fancy overseas holidays and fancy homes because they can just about afford the repayments. Spending their wealth each month on a BMW 3 series or fancy take-away coffee to be "seen", instead of putting some away in investments. If more people lived within their means, the wealth gap would not be so large.
Any stats at all to support your view? Lots of folks you know own BMWs?
dude, many people spend more money on technology/entertainment than they spend on food.
many people live in houses 20-50% larger than they did in the 70s
many people feel $40k SUVs are normal and fine to buy
flying has increased massively
anyone who wants to go live a 70s life can go do that and live very comfortably. No tech, 3 channels, no computer, no cell phone, a crap car, no flying vacations and a small house.
agip wrote:
Giles Corey wrote:
Personally I believe that a notable percentage of this is due to overspending. The middle class trying to live like high income individuals, because they are told by marketing that "they deserve it". People buying luxury cars, fancy overseas holidays and fancy homes because they can just about afford the repayments. Spending their wealth each month on a BMW 3 series or fancy take-away coffee to be "seen", instead of putting some away in investments. If more people lived within their means, the wealth gap would not be so large.
Any stats at all to support your view? Lots of folks you know own BMWs?
dude, many people spend more money on technology/entertainment than they spend on food.
many people live in houses 20-50% larger than they did in the 70s
many people feel $40k SUVs are normal and fine to buy
flying has increased massively
anyone who wants to go live a 70s life can go do that and live very comfortably. No tech, 3 channels, no computer, no cell phone, a crap car, no flying vacations and a small house.[/quote
Again, do you have any data, any statistics whatsoever to support your contention that the average American is better off financially today than 50 years ago? Anything at all?
Racket wrote:
Maserati wrote:
Dow futures in the tank. It will take a heck of a rally to turn things green today. Yes, it has happened before.
What was the original thesis that is being argued by you guys?
there wasn't one. it was just a bunch of canned "America is literally the worst" sh!t that you usually see on Reddit.
My God what a moron you are. Just not in the mood to let this nonsense slide today
ok so we'll open with the sp500 down 14% down from its highs. What was that? two weeks ago?
14% is the average drawdown on a year. we had a 20% drawdown in 2018 and then rock and roll 2019 was one of the best years in recent memory.
balanced accounts are down just 2% year to date. 2%.
Conservative accounts are flat for the year.
Facing up to the fact of a flat first two months of the year is not a big ask of ourselves.
On the other hand holy cow the world economy is being affected by this.
https://fred.stlouisfed.org/series/DSPIC96Giles Corey wrote:
agip wrote:
Any stats at all to support your view? Lots of folks you know own BMWs?
dude, many people spend more money on technology/entertainment than they spend on food.
many people live in houses 20-50% larger than they did in the 70s
many people feel $40k SUVs are normal and fine to buy
flying has increased massively
anyone who wants to go live a 70s life can go do that and live very comfortably. No tech, 3 channels, no computer, no cell phone, a crap car, no flying vacations and a small house.[/quote
Again, do you have any data, any statistics whatsoever to support your contention that the average American is better off financially today than 50 years ago? Anything at all?
Despite the large increase in U.S. income inequality, consumption for families at the 25th and 50th percentiles of income has grown steadily over the time period 1960-2015. The number of cars per household with below median income has doubled since 1980 and the number of bedrooms per household has grown 10% despite decreases in household size. The finding of zero growth in American real wages since the 1970s is driven in part by the choice of the CPI-U as the price deflator; small biases in any price deflator compound over long periods of time. Using a different deflator such as the Personal Consumption Expenditures index (PCE) yields modest growth in real wages and in median household incomes throughout the time period. Accounting for the Hamilton (1998) and Costa (2001) estimates of CPI bias yields estimated wage growth of 1% per year during 1975-2015. Meaningful growth in consumption for below median income families has occurred even in a prolonged period of increasing income inequality, increasing consumption inequality and a decreasing share of national income accruing to labor.
The bottom line: According to this metric, Americans enjoy a high level of economic welfare relative to most other countries, and the level of Americans’ well-being has continued to improve over the past few decades despite the severe disruptions of the financial crisis and its aftermath.
Giles Corey wrote:
Racket wrote:
there wasn't one. it was just a bunch of canned "America is literally the worst" sh!t that you usually see on Reddit.
My God what a moron you are. Just not in the mood to let this nonsense slide today
Does that mean you'll leave now?
WASHINGTON, D.C. -- Americans' ratings of their standard of living are on pace to be the best in Gallup's 10-year tracking history. The index average for the year now stands at +54 -- four points above last year's record-high +50.
https://news.gallup.com/poll/218981/americans-ratings-standard-living-best-decade.aspx
agip wrote:
https://www.brookings.edu/blog/ben-bernanke/2016/10/19/are-americans-better-off-than-they-were-a-decade-or-two-ago/The bottom line: According to this metric, Americans enjoy a high level of economic welfare relative to most other countries, and the level of Americans’ well-being has continued to improve over the past few decades despite the severe disruptions of the financial crisis and its aftermath.
Bad idea. Like I said, the goal posts can be endlessly moved on "better off now vs then" to suit any arbitrary definition of "better off."
[quote]agip wrote:
ok so we'll open with the sp500 down 14% down from its highs. What was that? two weeks ago?
14% is the average drawdown on a year. we had a 20% drawdown in 2018 and then rock and roll 2019 was one of the best years in recent memory.
balanced accounts are down just 2% year to date. 2%.
Conservative accounts are flat for the year.
Facing up to the fact of a flat first two months of the year is not a big ask of ourselves.
Somehow the fact that the S+P has fallen from 3,393.52 2 weeks ago to 3,023.94 at close yesterday, with an expected drop of another 3% at opening today does not give me a warm and fuzzy feeling.
Racket wrote:
Giles Corey wrote:
My God what a moron you are. Just not in the mood to let this nonsense slide today
Does that mean you'll leave now?
You want to walk me through what passes for your "thought process"?
I can be goaded into this debate giles but I'd rather not.
Because ANYONE who really thinks economic living standards in the 70s were higher than today is a complete nitwit.
Esp if they start citing inequality numbers as some how meaning living standards have fallen. That makes absolutely no sense and 5 seconds of thinking about it would reveal that.
You are new to this thread. Stop with the bitter and angry would you?
I'm being incivil to you because you are being very rude on this thread. Clean it up.
Giles Corey wrote:
[quote]agip wrote:
ok so we'll open with the sp500 down 14% down from its highs. What was that? two weeks ago?
14% is the average drawdown on a year. we had a 20% drawdown in 2018 and then rock and roll 2019 was one of the best years in recent memory.
balanced accounts are down just 2% year to date. 2%.
Conservative accounts are flat for the year.
Facing up to the fact of a flat first two months of the year is not a big ask of ourselves.
Somehow the fact that the S+P has fallen from 3,393.52 2 weeks ago to 3,023.94 at close yesterday, with an expected drop of another 3% at opening today does not give me a warm and fuzzy feeling.
and learn the F how to quote.
just hit quote. that's it. it's a very very very easy tech to master. you hit quote. That's it. that's all you do. then type below the quoted passage.
FFS.