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American's Wealth Dropped 40% ....

Discussion in 'Political Issues' started by aircarver, Jun 11, 2012.

  1. countrygun

    countrygun

    17,069
    17
    Mar 9, 2012
    watch it, you are going to hear from someone around here who will tell you that that is the measure of the economy, the Dow Jones Industrial Average is. It has been up now for several days so Obama has made the economy better.
     


  2. aircarver

    aircarver Ride Continues Silver Member

    ... by getting his ass handed to him in Wisconsin .......:rofl:

    /
     
  3. Cavalry Doc

    Cavalry Doc MAJ (USA Ret.)

    34,969
    9
    Feb 22, 2005
    Republic of Texas
    The DJI today

    [​IMG]


    Whoops, guess Barry hit the wrong button again.


    [​IMG]
     
  4. countrygun

    countrygun

    17,069
    17
    Mar 9, 2012

    See, he did it deliberately. You just don't understand him because he is so brilliant.

    :rofl:
     
  5. wjv

    wjv

    13,873
    1,322
    Jan 17, 2002
    Pacific NW
    I'm a bit skeptic of those types of headlines.

    We paid $270K for our home
    Right when housing peaked our home was worth ~$500K
    Now it's worth $280K

    So am I:
    1) Down 44%
    or
    2) About even

    All depends on what start/end points you pick for your data.
     
  6. 427

    427

    6,997
    0
    Nov 23, 2009
    KUMSC
    Does the dollar when you paid $270K have the same purchasing power now as it did then?
     
  7. wjv

    wjv

    13,873
    1,322
    Jan 17, 2002
    Pacific NW
    No

    But it's not down 40% either.
     
  8. Guss

    Guss

    4,150
    273
    Jul 1, 2010
    Tampa
    The article breaks it down pretty well. Most of the loss was from the burst of the housing bubble. If you were crazy enough to think houses were worth as much as they were going for a few years ago, you deserved to lose your money.

    You have to be man enough to take responsibility if you lost money. Personally, I gained over the last three years. I wonder how Romney did?
     
  9. While Obama has only made it worse, it's kind of difficult to make a realistic case that the bursting of a decades long credit bubble is his fault. There have been many contributors from both parties.
     
    Last edited: Jun 11, 2012
  10. DonGlock26

    DonGlock26

    46,715
    1,768
    Jan 18, 2001
  11. GAFinch

    GAFinch

    5,912
    28
    Feb 23, 2009
    Georgia
    Obama has certainly made it worse by talking. Pelosi made it worse by writing bills and then teaming up with Reid to ram them through Congress. As for original blame, I lay most of it on Barney Frank and Charlie Rangel, who ignored repeated pleas from Bush to straighten out Freddie/Fannie. Yes, the banks were secretly packaging subprime mortgages to investors, but what else were they supposed to do with these junk loans that Congress was strongly encouraging them to give out?
     
  12. fortyofforty

    fortyofforty

    9,780
    2,356
    Jul 9, 2005
    You watch the stock market jump if it looks more and more certain that Odumbo will be a one term mistake.
     
  13. Cavalry Doc

    Cavalry Doc MAJ (USA Ret.)

    34,969
    9
    Feb 22, 2005
    Republic of Texas
    I think precious metals are an important part of any portfolio, but I'm bucking the trend. Gold and Silver are overpriced. I'm investing in copper, lead and brass.
     
  14. G-19

    G-19

    1,735
    0
    Jul 1, 2004
    If, and that is a big IF, the economy were to collapse gold and silver would be unimportant. Food, shelter, guns, ammo, and medicine would be the new money. Those are the things people need.

    I grow a garden, my wife cans, my house is paid for and have plenty of densely wooded land in another state, with lots of animals on it. I have thousands of rounds of ammo and in the process of learning to reload and cast bullets. I have also been reading on a lot of different natural remedies. I also have a few good friends that are really into the survivalist thing.

    Yeah, I like the life I lead and all the extras I can get, but can survive if I need to. I wonder how many of those who put all their hope in cash, gold and silver will fare.
     
    Last edited: Jun 11, 2012
  15. Cavalry Doc

    Cavalry Doc MAJ (USA Ret.)

    34,969
    9
    Feb 22, 2005
    Republic of Texas
    I have a very similar situation. Just a tip, cast lead isn't too good for certain types of firearms. The reloading forum here has tons of good information. Be forewarned, if they make jokes at your expense, it's all in good fun, and not personal. It's a lot different than GTPI.
     
  16. cowboy1964

    cowboy1964

    19,973
    2,282
    Sep 4, 2009
    U.S.A.
    Tell ya what, when the collapse comes I'll give you 1000 rounds of ammo for each pound of gold you can give me. Deal?

    Gold has been money for 3000 years but hey, believe whatever you like.
     
    Last edited: Jun 12, 2012
  17. If the housing market turns out to be the harbinger of a general deflationary spiral (and there is mounting evidence of this), then all commodities will fall in price.
     
  18. fortyofforty

    fortyofforty

    9,780
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    Jul 9, 2005
    However, gold has no intrinsic value. You can't eat it. You can't build much with it. You can't grow or kill food with it. It has value only because people grant it value, due partly to its scarcity. Other than that, it's a soft shiny metal.