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My first house in '75 was an old 6-bedroom farmhouse, somewhat rough but livable. It was $22,000 and I was making about $6-7/hour as a journeyman moldmaker. Someone can update those numbers.
I'll give it a shot, let's be conservative; and value that old house at $220K...a cheap house in 2023.
I don't think a journeyman trade of any sort has increased tenfold, to $60-$70/hr.
This shows just how much wages have not kept pace.
And lately, the markets haven't kept pace even with inflation; nor have wages kept pace with housing costs. The stock markets have still gone up for the year, but only due to investors chasing yields.
When you look are where we are at, the numbers/charts have us on the verge of the 1987 crash; hard and fast.
GREAT NEWS!!!! Historic buying opportunity for those of us smart enough to know the markets will recoup any losses and then some.
FYI - you can find 1,000 different "The markets are crashing" clickbait articles at any given time on the internet. Today isn't any different.
ROFL
Not even close. This isn't a crash at all nor is it a HISTORIC BUYING OPPORTUNITY. We are in the 3rd inning of a 9 inning game, and the so called "smart money" isn't buying right now. The smart money is sitting this out, or shorting.
When the DOW is down only a few thousand points off its peak, and you're screaming historic buying opportunity, you sound like a used car salesman. Good grief. As mathjak has pointed out any number of times, look how much further the market fell in 2008 and early 2009 -- well past where a lot of people thought it was going. Finally in spring of 2009 there really was a buying opportunity.
Last edited by BeerGeek40; 10-05-2023 at 10:55 AM..
GREAT NEWS!!!! Historic buying opportunity for those of us smart enough to know the markets will recoup any losses and then some.
There are some older investors who don't have unlimited time to wait for the price recovery nor who are adding to equity positions any longer. They have to look at declines from a different perspective than those with decades of runway.
It is crashing for the moment until the panic people sell out. Then smart money moves in. We shall see how low it goes. Our anti-cheap energy government that was voted in isn't helping matters of course as we are coming off a pandemic and they are not allowing cheap energy sources to flow. We are getting what we deserve however.
What cheap energy prices? You aren't going to see $2 gas again unless something very bad happens. Oil companies will stop producing if prices drop that low because they aren't going to lose money just to let you have cheap gas..
GREAT NEWS!!!! Historic buying opportunity for those of us smart enough
to know the markets will recoup any losses and then some.
I know, right? I'm still waiting For CCL, Carnival Cruise Lines, tho. I have faith, man.
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I'm still waiting For CCL, Carnival Cruise Lines, tho. 
I have faith, man.
