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Old 09-17-2009, 07:20 PM
 
Location: Florida
62,647 posts, read 34,149,323 times
Reputation: 10400

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Quote:
Originally Posted by HappyTexan View Post
But while it grew $2 trillion, it's still down almost 20% from peak. So Americans are not wealthier by any means.
We are not back at the peak yet, but we have improved by 2 trillion.

We are wealthier now compared to six months ago.

Is that a bad thing?
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Old 09-17-2009, 07:26 PM
 
Location: Palm Springs, CA
26,529 posts, read 24,949,987 times
Reputation: 7739
Cool! We're all rich again!
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Old 09-17-2009, 07:30 PM
 
Location: Great State of Texas
86,093 posts, read 72,297,737 times
Reputation: 27564
Quote:
Originally Posted by Finn_Jarber View Post
We are not back at the peak yet, but we have improved by 2 trillion.

We are wealthier now compared to six months ago.

Is that a bad thing?
No, we are less poor then we were 6 months ago.
That's more of a realistic perspective.

Retirement age people with 401K's having lost 40-50% are not jumping for joy just yet. People who have homes under water with their mortgage are not jumping for joy just yet.

We are less poor and that is good. But we are not any wealthier YET.
And I didn't even bring the declining dollar into the picture.
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Old 09-17-2009, 07:40 PM
 
Location: Florida
62,647 posts, read 34,149,323 times
Reputation: 10400
Quote:
Originally Posted by HappyTexan View Post
No, we are less poor then we were 6 months ago.
That's more of a realistic perspective.

Retirement age people with 401K's having lost 40-50% are not jumping for joy just yet. People who have homes under water with their mortgage are not jumping for joy just yet.

We are less poor and that is good. But we are not any wealthier YET.
And I didn't even bring the declining dollar into the picture.
Just because you became poor, doesn't mean that everyone suffered the same fate. Most people never went broke. That's the more realistic perspective. Most people have just been keeping a low profile when it comes to spending.

Those people who lost 40% of their 401K, should have recovered a good chunk of it back by now. I did, and although I am not jumping with joy yet, but I am getting more and more optimistic by the day. People are standing around the office coffee rooms discussing investment properties and hot stocks again. That is a good sign. Once people get the feeling that they need to make moves or they will miss the boat, things will start turning quickly. Money will begin to flow again, and they will fuel the markets and one thing will spark the next.

Go canes! Ups, half time just ended.....
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Old 09-17-2009, 07:51 PM
 
Location: Great State of Texas
86,093 posts, read 72,297,737 times
Reputation: 27564
Quote:
Originally Posted by Finn_Jarber View Post
Just because you became poor, doesn't mean that everyone suffered the same fate. Most people never went broke. That's the more realistic perspective. Most people have just been keeping a low profile when it comes to spending.

Those people who lost 40% of their 401K, should have recovered a good chunk of it back by now. I did, and although I am not jumping with joy yet, but I am getting more and more optimistic by the day. People are standing around the office coffee rooms discussing investment properties and hot stocks again. That is a good sign. Once people get the feeling that they need to make moves or they will miss the boat, things will start turning quickly. Money will begin to flow again, and they will fuel the markets and one thing will spark the next.

Go canes! Ups, half time just ended.....
You are right..the next bubble is just around the corner. I heard the stock market talk too at work. But it's not "investment" type talk..it's how to make money quick. Yes, now people see this uptick and feel they are missing the boat on something.
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Old 09-17-2009, 09:43 PM
 
Location: H-town, TX.
3,428 posts, read 5,750,828 times
Reputation: 2120
Quote:
Originally Posted by Finn_Jarber View Post
Just because you became poor, doesn't mean that everyone suffered the same fate. Most people never went broke. That's the more realistic perspective. Most people have just been keeping a low profile when it comes to spending.

Those people who lost 40% of their 401K, should have recovered a good chunk of it back by now. I did, and although I am not jumping with joy yet, but I am getting more and more optimistic by the day. People are standing around the office coffee rooms discussing investment properties and hot stocks again. That is a good sign. Once people get the feeling that they need to make moves or they will miss the boat, things will start turning quickly. Money will begin to flow again, and they will fuel the markets and one thing will spark the next.

Go canes! Ups, half time just ended.....
So people have still learned NOTHING from the last umpteen busts.

Everybody who can open an ETrade account feels like an expert.

The rest of the world hinges on our ability to spend ourselves into debt. At our saving grace is the gubmint slamming money into blacks holes (AKA Failed banks) to where that money isn't in curculation.

Great.

Oh yeah, Christmas will be light this year.

Revealed: The ghost fleet of the recession anchored just east of Singapore | Mail Online
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Old 09-17-2009, 09:49 PM
 
Location: Great State of Texas
86,093 posts, read 72,297,737 times
Reputation: 27564
Quote:
Originally Posted by AlfredB1979 View Post
Oh yeah, Christmas will be light this year.
That it will AlfredB1979. Those empty ships may stay empty for a while.
Here's an FRB report that didn't make the MSM..guess because it doesn't contain positive numbers.

Production and Capacity Report.
Production down about 10%.
Capacity down in all except utilities..up a bit over 1%

Industrial Production and Capacity Utilization
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Old 09-18-2009, 04:55 AM
 
Location: Florida
62,647 posts, read 34,149,323 times
Reputation: 10400
Quote:
Originally Posted by AlfredB1979 View Post
So people have still learned NOTHING from the last umpteen busts.

Everybody who can open an ETrade account feels like an expert.

The rest of the world hinges on our ability to spend ourselves into debt. At our saving grace is the gubmint slamming money into blacks holes (AKA Failed banks) to where that money isn't in curculation.

Great.
It's the American way. Free market economies revolve around spending. People spend and create demand, and small and big business satisfy the demand. Everyone benefits. Let's hope people and banks learned what happens when you go overboard with loans though. I don't blame you for being shell shocked after 2008 and 2009, but eventually things will turn around.
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