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RE: Imagine there's no stock market... - 6/6/2010 8:42:42 PM

pahunkboy

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quote:

ORIGINAL: popeye1250

I like the stock market.

Yeah you do.

Drop off your money-

and come back in 30 years.

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RE: Imagine there's no stock market... - 6/6/2010 8:46:48 PM

Jeffff

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Or bury it in your back yard and hope you remember where

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RE: Imagine there's no stock market... - 6/6/2010 8:48:24 PM

pahunkboy

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Why not let Wall street manage your life savings?

Said street needs trillions bail out-

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RE: Imagine there's no stock market... - 6/7/2010 7:58:20 AM

subtee

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quote:

ORIGINAL: Musicmystery

Let's take that 30 years again and, say, Grandma subtee tells Auntie subbie to invest.

OMG

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RE: Imagine there's no stock market... - 6/7/2010 8:03:52 AM

vincentML

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quote:

ORIGINAL: willbeurdaddy

quote:

ORIGINAL: vincentML

quote:

ORIGINAL: willbeurdaddy

quote:

ORIGINAL: vincentML

RO, your chart is skewed. $15,000 average income per tax unit. Who was paying taxes in 1933? Who had a job in 1933? 25% unemployment. Taxes were levied only on the wealthiest segment of the populaton. Sneaky statistics, bro.

that has nothing to do with it. the chart was in 2006 dollars. converted back to 1933 dollars his own chart would show $1000 average per tax unit...since there were very few two income households thats close enough to an average $1000 salary

Here is RO's quote from his post #204:

quote:

average income in 33 was 11000

um whats your point? Thats what I said.

RO did not make the conversion from 2006 dollars from what I read.

I would not argue with the $1000 figure that you provided. It may very well be accurate. I still would point out that whatever the amount is it does not represent the average salary for the working population but the average for the taxed population which leads me to conclude that the averge working salary was lower in 1933 than even the $1000. I was able to find that there were 55 tax brackets that year with the lowest rate at 4% and the highest at 63% but there is no clear indication of an average salary. A large portion of the country was still rural. that would scale the figure downward I think.

Also, there was a huge part of the population who were unemployed and not taxed which skews the chart.

l
The point is average income wasnt 11,000 in 1933. This is his source:
http://www.collarchat.com/photo_view.asp?file=0;3242679

Read the legend on the vertical axis. 2006 dollars. He was talking out of his RO. (rectal orifice)

I think we are in agreement.

< Message edited by vincentML -- 6/7/2010 8:04:29 AM >

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RE: Imagine there's no stock market... - 6/7/2010 12:22:18 PM

Musicmystery

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quote:

ORIGINAL: subtee

quote:

ORIGINAL: Musicmystery

Let's take that 30 years again and, say, Grandma subtee tells Auntie subbie to invest.

OMG

You don't have a grandmother?

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RE: Imagine there's no stock market... - 6/7/2010 2:03:27 PM

pahunkboy

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So how did your stock market do today?

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RE: Imagine there's no stock market... - 6/7/2010 2:37:21 PM

willbeurdaddy

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quote:

ORIGINAL: pahunkboy

So how did your stock market do today?

That depends on whether you were on the long side, the short side, or invested for the long term in which case you dont give a shit how it did today. The outlook for the stock market for the short/intermediate term is not good for the long side. The outlook for the stock market long term and given Washington's current penchant for uncontrolled spending is also not good for the long side.

Then again, it isnt good for the long side in gold, silver, oil or any other medium of exchange either. A bad economy is a bad economy regardless of the fiat currency you use...and gold/silver are no less "fiat" than paper. I.e. nothing has intrinsic value, only what people are willing to trade for it at any given time.

< Message edited by willbeurdaddy -- 6/7/2010 2:38:05 PM >

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RE: Imagine there's no stock market... - 6/7/2010 2:41:51 PM

rulemylife

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quote:

ORIGINAL: willbeurdaddy

I.e. nothing has intrinsic value, only what people are willing to trade for it at any given time.

Willbeur, I never thought the day would come, but I agree with you completely.

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RE: Imagine there's no stock market... - 6/7/2010 2:45:32 PM

subtee

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EH? Sock parka to D-Day?

Speak UP, SONNY!

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RE: Imagine there's no stock market... - 6/7/2010 3:04:49 PM

pahunkboy

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quote:

ORIGINAL: willbeurdaddy

quote:

ORIGINAL: pahunkboy

So how did your stock market do today?

That depends on whether you were on the long side, the short side, or invested for the long term in which case you dont give a shit how it did today. The outlook for the stock market for the short/intermediate term is not good for the long side. The outlook for the stock market long term and given Washington's current penchant for uncontrolled spending is also not good for the long side.

Then again, it isnt good for the long side in gold, silver, oil or any other medium of exchange either. A bad economy is a bad economy regardless of the fiat currency you use...and gold/silver are no less "fiat" than paper. I.e. nothing has intrinsic value, only what people are willing to trade for it at any given time.

Silver rose 4% today.

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RE: Imagine there's no stock market... - 6/7/2010 3:10:55 PM

pahunkboy

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Gold ends $2 shy of May record, silver up 5%

Gold futures on Monday rose nearly 2% to end just a couple of dollars short of their May 12 record amid lingering concerns about the health of the world economy. Gold for August delivery, the most active contract, rose $23.10, or 1.9%, to settle at $1,240.80 an ounce. Silver for July delivery tracked gold to settle 5% up at $18.16 an ounce/snip

http://www.marketwatch.com/story/gold-ends-2-shy-of-may-record-silver-up-5-2010-06-07

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RE: Imagine there's no stock market... - 6/7/2010 3:32:38 PM

rulemylife

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quote:

ORIGINAL: pahunkboy

quote:

ORIGINAL: willbeurdaddy

quote:

ORIGINAL: pahunkboy

So how did your stock market do today?

That depends on whether you were on the long side, the short side, or invested for the long term in which case you dont give a shit how it did today. The outlook for the stock market for the short/intermediate term is not good for the long side. The outlook for the stock market long term and given Washington's current penchant for uncontrolled spending is also not good for the long side.

Then again, it isnt good for the long side in gold, silver, oil or any other medium of exchange either. A bad economy is a bad economy regardless of the fiat currency you use...and gold/silver are no less "fiat" than paper. I.e. nothing has intrinsic value, only what people are willing to trade for it at any given time.

Silver rose 4% today.

That does not address his point Pahunk.

What we use as a medium of exchange has no value in itself, it is only the value we give to it.

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RE: Imagine there's no stock market... - 6/7/2010 3:44:56 PM

pahunkboy

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Dude- you have silver in electronics and in your mouth and your house.

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RE: Imagine there's no stock market... - 6/7/2010 3:57:27 PM

vincentML

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quote:

nothing has intrinsic value, only what people are willing to trade for it at any given time.

Thank you, Will. I was trying to make this point earlier in this thread. Nothing has intrinsic value. Each stock, bond, commodity, currency, etc is only worth what the last BID was. That's why the Markets are auctions. Someone said, "Nothing so captures the mind like rising prices."

Tulip bulbs, anyone?

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RE: Imagine there's no stock market... - 6/7/2010 3:58:55 PM

rulemylife

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quote:

ORIGINAL: pahunkboy

Dude- you have silver in electronics and in your mouth and your house.

Yes, gold and silver do have commercial uses.

That still does not address the point.

The value placed on those commodities has only a distant relation to the value of their actual use.

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RE: Imagine there's no stock market... - 6/7/2010 4:00:38 PM

vincentML

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quote:

ORIGINAL: pahunkboy

Dude- you have silver in electronics and in your mouth and your house.

Some South Pacific islanders used shells for currency. Some used rocks that were so big they could not be moved. Sort of like gold bullion stored in Fed Reserve vaults. LMFAO !!

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RE: Imagine there's no stock market... - 6/7/2010 4:04:16 PM

pahunkboy

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quote:

ORIGINAL: rulemylife

quote:

ORIGINAL: pahunkboy

Dude- you have silver in electronics and in your mouth and your house.

Yes, gold and silver do have commercial uses.

That still does not address the point.

The value placed on those commodities has only a distant relation to the value of their actual use.

Now we are getting somewhere.

Silver can not be printed.   The supply is fixed. Same with gold.   The central bank can not simply create more- debase it.

Each bomb had 700 oz of silver.   Silver is also in some medicines.   It is used also in batteries- supply is being dwindled away.

Silver should do better then gold.   But I still should own more gold then what I so.

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RE: Imagine there's no stock market... - 6/7/2010 4:06:11 PM

pahunkboy

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http://www.silverbearcafe.com/private/06.10/1500oz.html

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RE: Imagine there's no stock market... - 6/7/2010 4:24:58 PM

rulemylife

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quote:

ORIGINAL: pahunkboy

Now we are getting somewhere.

Silver can not be printed.   The supply is fixed. Same with gold.   The central bank can not simply create more- debase it.

Each bomb had 700 oz of silver.   Silver is also in some medicines.   It is used also in batteries- supply is being dwindled away.

Silver should do better then gold.   But I still should own more gold then what I so.

All you are doing is rambling Pahunk.

Whether the supply is fixed or not is immaterial.

Both gold and silver have very limited commercial uses, their value is the same basis as the so-called fiat currency you disdain.

In other words, they have very little value other than what we place on them as a form of currency.

< Message edited by rulemylife -- 6/7/2010 4:26:55 PM >

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