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And in the early 1980's the U.S. jobless rate was 10.8% (December 1982) and we also had an inflation rate of 13.5% (1980). At that time, I earned less than $10,000 a year and was the sole support for my family of 3 kids under the age of 6 and an unemployed husband (soon to be ex-husband) who had been laid off from a steelworker job.
My point? The economy always cycles up and down. Hang in there. Things will get better.
Interest rates are low.
The stock market has almost doubled in the past 18 months.
Housing prices have fallen.
Well, I am sitting in cash because interest rates are so low and I predict the stock market is going to crash (when people figure out the US is toast). Housing prices have fallen as has the value of my house.
Well, I am sitting in cash because interest rates are so low and I predict the stock market is going to crash (when people figure out the US is toast). Housing prices have fallen as has the value of my house.
Not everything is good.
"Stocks have reached what looks like a permanently high plateau."
-- Irving Fisher, Professor of Economics, Yale University, 1929
You know something thousands of PhDs and MBA don't know?
Hmmm, maybe. I worked for a Big Financial Company. When things looked shaky in the spring of 2008, Mr. TopExpertEconomistSeenOnTVQuiteOften, PhD. stood in front of several hundred of us on a video conference and went on about how this was just a little slump and would end in a few months, looking all authoritative while he pointed to various graphs and charts on the big screen projectors to prove his points. I, Ms. LiberalArtsDon'tKnowCrapAbout$ButCanSeeATrainWreck WhenIt'sComing, BA, Magna Cu m Laude, rolled my eyes and thought about all the cash I was stashing each payday to prepare for the fall.
Six months later, 15% of the staff (300 people) were laid off.
So yeah, some of us know a lot more (or, most likely, more willing to admit the upcoming disaster) than the MBAs, PhDs and such.
Bingo, if you know your history the Crash of 29 was planned. A few people got rich off it, think it can't happen again???????
I think the point is that the market always bounces back. The US is not 'toast' as it has been called in this thread.
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