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From the New York Times
"Income inequality grew significantly in 2005, with the top 1 percent of Americans - those with incomes that year of more than $348,000 - receiving their largest share of national income since 1928, analysis of newly released tax data shows.The top 10 percent, roughly those earning more than $100,000, also reached a level of income share not seen since before the Depression."
To me it seems like we are heading down the same road all over again, fewer people benefitting, stock market bubbling, real estate sky high, it all seems to point to a new depression, and this time weighed down with foreign debt. Only in the last 5 years has there been an all out assault on the middle class. It started in the 70's, but has really gotten worse lately. How can this be a good thing? Only a wider distribution of wealth shows a healthy economy. For the alternative, look at the continents of Africa and south America.
I am conservatively invested in Asset allocation mutual funds- but this sucks.
At the next up tick I may consider reducing my exposure to equities.
I shorted the Nasdaq by buying QID the ultra short etf and flat out shorting the QQQQ's and I covered about a half hour ago. Just in time it seems Amazon is bailing out the market in the after hours.
Today was a very good day! I swing both ways long and short so I don't care which way the market goes.
I am conservatively invested in Asset allocation mutual funds- but this sucks.
At the next up tick I may consider reducing my exposure to equities.
I have been telling everyone I know to watch their portfolios carefully. There has been some talk about the widening gap between the rich and the poor. The stock market is a very good example of that. Wealthy people (ones with multi-million-dollar accounts with investment firms) get in on good stocks before everybody else does. And then there are companies executives and other employees who get stocks for little or nothing as part of their compensation. When the market goes down, it is simply a transferring of money from the people who got in late to the people who got in early.
I have been telling everyone I know to watch their portfolios carefully. There has been some talk about the widening gap between the rich and the poor. The stock market is a very good example of that. Wealthy people (ones with multi-million-dollar accounts with investment firms) get in on good stocks before everybody else does. And then there are companies executives and other employees who get stocks for little or nothing as part of their compensation. When the market goes down, it is simply a transferring of money from the people who got in late to the people who got in early.
Davidt
you are truly correct-
as I said above- I am going to reduce drastically by asset allocation growth funds- this is going to get ugly- the housing debacle is now beginning to cause the pain many of the bloggers warned of nearly 2 years ago.
Two different issues being commingled here, future economy direction and inequality in compensation.
Both are not severe problems in my opinion. Better Board of Director oversight is currently taking place as activist stockholders, especially the large pension funds and the mutual funds get seats on the board. This should reign in much of the agreed to excesses regarding executive compensation.
The economy looks pretty good to me, go ahead and sell your stocks and mutual funds, but I'm staying in and expecting to see a S&P 500 growth to at least 2500 (it closed at 1511 today) by around the end of 2015. If you have better alternative investments, I think you should reallocate to them, I'll stick with the US and International stock markets myself. I think jobs will be plentiful and high paying for those properly educated and trained, regardless of race (thought I'd tie a couple of threads together here) and party in power.
I coudn't care less that the income gap is supposedly widening so what?
So the rich are getting richer at a faster pace then the poor big deal.
This great economy of the past 4 yrs has made both the poor and the rich better off.
I coudn't care less that the income gap is supposedly widening so what?
So the rich are getting richer at a faster pace then the poor big deal.
This great economy of the past 4 yrs has made both the poor and the rich better off.
A rising tide lifts all boats.
go to the nyc forums and tell this to the working-class people getting priced out of their city because of the ridiculous sums the rich are willing to pay for housing. they'll enjoy understanding how they benefit from that.
I coudn't care less that the income gap is supposedly widening so what?
So the rich are getting richer at a faster pace then the poor big deal.
This great economy of the past 4 yrs has made both the poor and the rich better off.
A rising tide lifts all boats.
You are so funny, man. The rich and the poor getting better? That's an oxymoron. A rising tide is bad if you are in the water. The poor are not on any boat.
You are so funny, man. The rich and the poor getting better? That's an oxymoron. A rising tide is bad if you are in the water. The poor are not on any boat.
Maybe they should've thought about that long ago and built a boat. The rich are getting richer and the poor are getting poorer because the rich keep doing what made them rich and the poor keep doing what made them poor.
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You are so funny, man. The rich and the poor getting better? That's an oxymoron. A rising tide is bad if you are in the water. The poor are not on any boat.
