Member
Posted 16 February 2021 - 10:31 AM
I really like this chart fib put out. What it really means I'm not sure, other than stock
prices since 2009 have accelerated beyond all expectations. No wonder a house
that cost less than $10K in 1950 is now $300K. Are we really better off.
IMHO, No!
I want return OF my money more than return ON my money
Posted 16 February 2021 - 07:30 PM
You wanna go back on gold standard to limit money printing?
Member
Posted 16 February 2021 - 09:31 PM
You wanna go back on gold standard to limit money printing?
It did have its advantages.
What is a dollar worth? Answer: A dollar.
The problem is that in order to make people believe they are richer today then yesterday (inflation / wealth effect),
we keep digging a deeper and deeper hole (printing more an more money) to reinforce that belief.
Just like the proposed $15 wage. While on the surface appears to benefit workers, but once those wages kick in
business is no dummy and will raise prices in order to get their share of those wages. Bottom line, the $15 wage earner is now worse off than
before that wage increase. But so are the rest of us.
Edited by dwnowhere1, 16 February 2021 - 09:34 PM.
Member
Posted 16 February 2021 - 10:19 PM
.You wanna go back on gold standard to limit money printing?
Just like the proposed $15 wage. While on the surface appears to benefit workers, but once those wages kick in,
business is no dummy and will raise prices (as they have no choice if they are to exist) in order to get their share of those wages (there is no share...wages are included in the mark up).
Or, as we've already seen, these same wage earners cease to have any employment at all as automation (technology) replaces them.
Thanks for the shout out!
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
Member
Posted 16 February 2021 - 11:08 PM
Seems insane that a factory worker used to be able to buy a house and put kids through college all while being the single source of income for the family.
Member
Posted 17 February 2021 - 09:47 AM
Seems insane that a factory worker used to be able to buy a house and put kids through college all while being the single source of income for the family.
Totally agree. All this really started during/after WWII. After woman entered the workforce two incomes became common
and prices keep escalated after that in order to absorb that additional income. Now two incomes won't buy what one used to.
Member
Posted 17 February 2021 - 10:00 AM
The sad part of all this though, is almost anyone who works has their retirement income going into the market -- since there is nowhere
else to go -- all in the hopes they can cash out at a value greater than what they put in. Wall Street makes their money from the commissions
and everyone else is taking the risk with a hope and a prayer that when retirement comes there is someone else out there who is willing to
buy their retirement dollars for at least equal or more than they put in. Biggest Ponzi scheme every devised. Guess we got to keep going up
to feed the beast until the economy collapses. With social security hanging on for dear life, looks like it will be sooner rather than later.
Until then, like daChief says: To the Moon!
Edited by dwnowhere1, 17 February 2021 - 10:02 AM.
Member
Posted 17 February 2021 - 10:20 AM
The key question that comes to mind is what are people really buying. Take Apple for example.
They tweak there OS once a year, and maybe adjust their API to include a few new features,
Most features aren't ever used by most people, or used rarely by just a select group.
So their business model is all based on trying to convince the public they need these new tweaked features
and you have to buy the newest IPhone or whatever to get them.
So goes it with most other businesses. It is about trying to convince the egos of us human that we need this or that.
But we really don't need any of it.
SO how does one put a fair value on an intangible -- basically the goodwill of a group buyers.
The same holds true for BitCoin. How does one even go about coming up with a fair value --- NOT a bid up market value.
Edited by dwnowhere1, 17 February 2021 - 10:20 AM.
I want return OF my money more than return ON my money
Posted 17 February 2021 - 11:21 AM
Stop being so negative and sullen. Life is great and human ego's are great, and human frailties are Ok, so start enjoying instead of brooding. Glass is half full. We don't need 5 bed room homes with 3 baths and walk in closets to accumulate more junk. Never lose track of how short our lives are in the big scheme. I can't believe I am past age 80 already. Where did the time go? I guess time flies when one is having fun. The smartest thing I ever did was retire early and play golf 5 rounds of 18 every week. That was the key to upward leap in my health. Working more years would have done me long ago in for sure. So just enjoy every day!
Member
Posted 17 February 2021 - 12:01 PM
Stop being so negative and sullen. Life is great and human ego's are great, and human frailties are Ok
Not negative, just making an observation.
How do you put a dollar value on a company or companies whose revenue stream is just based on human ego?
Edited by dwnowhere1, 17 February 2021 - 12:02 PM.
