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Don't be fooled by the stock market advances!

Discussion in 'Political Discussion' started by PatriotsReign, May 26, 2009.

  1. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    "2. And you haven't studied the history of the effect the Great Depression had upon American society. People don't buy BECAUSE of advertising, they buy because they have the money (or the credit). Believe me and your history books, this crisis is having and will have a HUGE impact upon the American psyche...and frugality is and will continue to be the outcome."
    _____________________________________

    The people who were of adult age in the Great Depression did not grow up in the age of electronic media and cybernetic advertising. If you think the majority of American society will somehow turn its back on People Magazine/American Idol and immerse itself in reading used paperback novels, then I have a bridge to sell you.

    It is for this very reason why I have railed AGAINST consumer energy conservation programs. It's like Nancy Reagan's "Just Say No" program. It fails to take into account sociology of the American people. I fully support saving energy by wearing more sweaters in the winter, using two sided copy paper and making sure my tires are properly inflated. But if you're counting on the average Joe Schmoe (with my apologies to the poster on our site called "Joe Schmoe") then your hoping against reality. This is 2009. In 1929, 95% of Americans never had owned a radio. They had not grown up imbued (or poisoned) by Madison Avenue. Pleas stop comparing 1929 and its effect on consumerism to today and its effect of consumerism.

    Once again, however, the next hyper-inflation will be more for the same reasons of the 1970s - - rampant energy cost rises and a weak dollar - - not crazy consumer spending.
    Last edited: Jun 2, 2009
  2. PatriotsReign

    PatriotsReign On the Roster

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    Ok...so we have different opinions...what else is new, huh? Time will tell. If I'm wrong, I'll be the first to come on here and say it.

    So you think it will be inflation like the 70's? That isn't my idea of HYPER-inflation and it didn't last too long. I can deal with 7-10% inflation for a few years. I thought you were talking 25-100% inflation like some other are.

    It was actually the late 70's/early 80's and I don't recall suffering much from that period other than it took me 10 months to find a job in '82 after getting my degree. I recall mortgage rates being 18%....but CD's also paid the same. Imagine that!
  3. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    10%+.

    1974: 11.03% (btw, in 1971, a REAL Socialist named Nixon instituted wage and price controls)
    1979: 11.22%
    1980: 13.58%
    1981: 10.35%

    Now, inflation is NOT the entire story when it comes to an economy - - it's just part of the puzzle. One can have a growing economy during inflationary times. One can have a growing stock market during inflationary times.

    Please don't assume my stating that there is a great likelihood of a big increase in inflation as meaning that the economy will tank or that stock markets will tank. I mean nothing of the sort.

    As I noted many times before, I believe that those who strategize now with an eye to benefitting from future inflation will do very well indeed. Just imagine if we level off at some point to a more historical norm of 5-7% inflation, you would be sitting very well with investment property at a 5% FIXED tax deductible interest for 30 years while RAISING the rents 5%+ annually.
    Last edited: Jun 2, 2009
  4. PatriotsReign

    PatriotsReign On the Roster

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    You're right...the possible economic landscapes in the short to mid-term future are endless. And if we have inflation with growth, that wouldn't be too bad.

    BTW shmessy....were you calling me on my 7-10% range for the 70'd recession? That was just off the top of my head and I was pretty darn close. I'm not one of those posters who always goes to the internet to make sure I'm exactly accurate....sometimes I just use what I remember.

    (not to say you're one those "search guys" who has to have FACTS every time either)
  5. PatriotsReign

    PatriotsReign On the Roster

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    Nixon a socialist....that's a good one.

    Yes, he was forced to implement those measures due to the "wage/price spiral" that caused the now famous "Stag-flation" of that period.
    Last edited: Jun 3, 2009
  6. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey


    Ha! Imagine what the reaction would be if Obama dared breathe the idea of what Nixon did in 1971!
  7. PatriotsReign

    PatriotsReign On the Roster

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    I know you're right on that one. The right would be "up in arms", but all we'd have to say is "NIXON STARTED IT!" :D
  8. PatriotsReign

    PatriotsReign On the Roster

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    Man, it seems like forever ago that the Dow was actually at 6,547:eek:

    Now that it's up over 15,000, we must be in a huge BOOM cycle, huh folks?
  9. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    It has been a tremendous boom for the investor class.....

    We are all fooled, again... duped by the plutocrats, again.
  10. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    And imagine if Obama had been the first U.S. president to go to China.

    Our presidents are "allowed" to do certain things: If you made your bones being anti-communist, and you open up China, you're shrewdly "playing the China card." If you made your bones fighting for people's rights at the community level, and you continue QE polilcies, you're pursuing "stimulus by other means," basically.

    Note that this president's not "allowed" to do what every other president has done in a recession, i.e., address it by direct government spending.

    Had he done so, of course, we'd have had a faster, steeper recovery. We may be removing what we've always done for this problem from the table, that is, grow out of it.

    The mechanism left to avoid collapse is the Fed. That has the effect of exacerbating the issue of inequality -- but at least it leaves the country and economy "intact."

    I don't think I've ever seen a President whose hands have been as thoroughly tied as this one's have been. Good job given the circumstances... but imagine this president given the latitude old crooked Nixon had.

    On the other hand, the present government spying prerogative would have been Nixon's wet dream. He wouldn't have needed physical burglars at Watergate.

    PFnV
  11. PatriotsReign

    PatriotsReign On the Roster

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    Fuggn Plutocrats and Watergate.....nice topics.
  12. Real World

    Real World Moderator Staff Member

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    Where do you think it would be without taxpayer paid for TARP & QE-till-infinity? Most subsidized industries blow up real nice when they're funded with other people's money. All the while us working class suckers get squeezed. I think it's funny how not all that long ago, it was CEO's and Wall St Bankers that everyone was railing against, yet the policies we've been using during this "crisis" have benefited those people the most. Heck, benefited them to a record level. Good times.
  13. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey



    A more accurate way to look at the Dow ... the media sensationalizes it too much.



    [​IMG]
    Last edited: Oct 25, 2013

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