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Originally posted by TauCetixeta
Originally posted by mactheaxe
All I got to say is, batten down the hatches. When this falls, its gonna hurt.
There will be no fall. The Stock Market is being held up by the Federal Reserve.
Haven't you been paying attention?
Originally posted by TauCetixeta
The private sector is growing the U.S. Economy at an acceptable rate. Reigning in spending
with the Sequester was the right thing to do. As of April 2013 the U.S. GDP = $16 Trillion !
The USA is an economic superpower.
Write this down: U.S. Stock Market jumps over 15,000 on May 3, 2013.
Fox Business Confirms it!
Originally posted by roguetechie
Now genius riddle me this... If the entire GDP of the US is sitting at a notional 16 trillion dollars and we have to print another 100 trillion dollars in liquidity to paper over yet another market explosion... did any more TANGIBLE GOODS AND SERVICES MAGICALLY COME INTO BEING DUE TO THIS 100 TRILLION DOLLAR BET?
If you answered no you'd be correct!!!
Now .... what this means in REAL terms, as in for the guy on the street, is that in one pen stroke every dollar you have in your pocket will buy between 1/7 and 1/8 as much crap because there is now 8 times as many dollars out there but STILL THE SAME AMOUNT OF STUFF!!
Do you see the problem here? Do you think your boss is going to wake up that day and give you a 700% raise?
I'll give you an example... in the tech support industry the starting wages at most companies for an entry level tech were around 11 dollars an hour in the area I lived in... now at that time gas was .89 cents a gallon for a couple weeks a year in mid january and NEVER more than a buck fifty a gallon the rest of the year. Now do you know what the starting wage for tech support jobs in that area is? 10 dollars an hour!
Yes that's right pookie the actual dollars per hour for the job has dropped by a little under ten percent while staple goods like gasoline have more than TRIPLED IN PRICE!!
Realistically if you have ten thousand dollars to spend right now on trying to make more money and you have a choice between playing the stock market and playing low stakes games at a non indian casino ... you'd be a FREAKING MORON to plunk your cash down with wall street!
Originally posted by thelongjourney
The responses to this thread reveal why conspiracy theorists are never taken seriously. The economic worldview is always the same: conspiracy theorists always believe that we are just moments away from economic collapse. No objective point of data matters except when it supports that thesis. Any evidence in favor of economic growth is always attributed as being a government conspiracy, made up, etc.
If you go back and look at posts on these boards from 2005 and 2006, when the economy was booming, it was the same thing. Its always the same thing, because believing economic collapse is nigh is central to conspiracy culture. When we hit DOW 30,000 and 5% unemployment - and we will eventually as all business cycles have booms - people will still be on here claiming its all a lie and were in a depression.