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Yes, its amazing what trillions and trillions of dollars emptied out of the US treasury can do to enrich the rich.
If the market got here on its own I would be hopeful, but this rise is artificial and it will come crashing back down. And the more 0bama and Pelosi spend us into the poor house, the faster the fall and the deeper it will be.
More like New Years eve at Mexican drug lords house. Everything elict you can imagine is free for the taking and in abundance too, you just have to hope your not in the room when some ******** whips out an AK-47 and pulls a Scarface inpersonation.
Or as a friend said today, "making money right now is as hard as finding naked chicks at a strip club"..
Wouldn't that mean that gold has gone up over 60% is eight months?? Well, it hasn't. Sorry. It has gone up some 7%, so I think I'll take the stock gains over your 7%. Besides, you might want to get rid of your gold soon because the Fed will start raising rates soon, and then the dollar will rise and gold could take a hit.
Raising rates will likely cause the dollar to collapse faster but at least there'll be a floor. Iceland had double digit fed rates and their currency collapsed too.
I'm not a lowly burger flipper. I'm a lowly research assistant and grad student.
Me and wifey were also grad students once - no one calls us lowly anymore. Best wishes!
Quote:
Originally Posted by summers73
Raising rates will likely cause the dollar to collapse faster but at least there'll be a floor. Iceland had double digit fed rates and their currency collapsed too.
Exactly. Raising of rates is bound to happen. Dollar will go down further, inflation will increase and, on the +ve side (!), we will get out of debt faster by devaluing what we owe. Some nations see gold as a more stable currency alternative to falling dollar.
In defense of the lousy Congress, we stared into the abyss and escaped a far more serious crisis. Digging out is going to be rough and take quite some time. Coming out of depression, stocks will go up before unemployment starts to fall. Some companies have started to hire. Do not light a cigar just yet - it will be a few years. But, we do seem to be headed upwards.
I'm not a lowly burger flipper. I'm a lowly research assistant and grad student.
Well, if you are a research assistant and grad student, my hat's off to you - there is nothing wrong with either of those. However, the facts are still the same - you have to understand that it's NOT just the rich who've benefitted from the rise in stock prices (just as it was not just the rich who suffered when they collapsed). As I said, a LOT of your fellow Americans own stock - not that many directly, but a HUGE number own them indirectly in the form of pensions and 401K's - and to those people, the recovery of the stock market has been a VERY GOOD thing. This is ESPECIALLY true for older folks like myself who are relatively close to retirement and don't necessarily have a lot of time to rebuild their nest egg.
In defense of the lousy Congress, we stared into the abyss and escaped a far more serious crisis. Digging out is going to be rough and take quite some time. Coming out of depression, stocks will go up before unemployment starts to fall. Some companies have started to hire. Do not light a cigar just yet - it will be a few years. But, we do seem to be headed upwards.
I agree with this 100%.
It could have been a WHOLE lot worse. Don't get me wrong, there are still problems and risks ahead, but compared to what we were facing at the end of last year, things are MUCH more stable and recovery seems to be on the way.
Again however - as I've said MANY times - it's a matter of how strong a recovery, and how fast it arrives: the answers to those questions remain to be determined.
I am just stating the simple fact that many people thoughout the US have seen their net worth rise during the past 8 months (excluding the value of their homes).
However, even home prices are rising in some markets.
Face it ... our economy is looking better and better each day !!!
Sorry, but I have to disagree with you.
I have yet to see ANY signs of economic recovery, at least as an average consumer. My friends have recently lost jobs and many can't find new ones.
Rising prices of crude oil are actually threatening to cause a double dip recession, and gas prices aren't helping.
I'm going to cut back on spending more until I see any signs of recovery that guarantees a better chance of employment.
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