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re: The DowJones Industrial Average AND the S&P500 Index both closed at record highs today
Posted on 1/19/24 at 7:57 pm to LSURussian
Posted on 1/19/24 at 7:57 pm to LSURussian
That’s great until you realize that a dollar is worth a lot less than it was three years ago. What was the Dow three years ago? For those of us lucky to own a lot of equities we have stayed flat or fallen a little behind. Most Americans haven’t been so lucky.
4
Posted on 1/19/24 at 8:35 pm to SloaneRanger
quote:
That’s great until you realize that a dollar is worth a lot less than it was three years ago.
Why do you do this in every thread like this?
quote:
What was the Dow three years ago? For those of us lucky to own a lot of equities we have stayed flat or fallen a little behind.
S&P 500 total return is up 35% in the last 3 years.
CPI is up 17%.
quote:
Most Americans haven’t been so lucky.
Most Americans don’t save any money, so who cares what a dollar was worth 3 years ago when they spent that dollar anyway?
And before you complain about the cost of things today, realize that median real weekly earnings are down 1.3% in the last 3 years. Thats not nearly the doom and gloom some of you want it to be, and considering the crazy spike in real wages we saw in 2020, that’s pretty damn impressive.
Posted on 1/19/24 at 9:32 pm to SloaneRanger
quote:
Most Americans haven’t been so lucky.
One of the silliest arguments I had on here a few weeks ago was that Americans without stocks have gotten blasted while at least stock owning Americans have come out a little ahead.
People couldn't fathom this concept. The bottom 50% of the country owns 0.6% of the stocks in existence, so they're just getting shredded through all this.
Posted on 1/19/24 at 10:22 pm to SloaneRanger
quote:
For those of us lucky to own a lot of equities we have stayed flat or fallen a little behind.
I own a lot of equities. I’m miles ahead of where I was at the end of 2020. You’re not?
Posted on 1/23/24 at 10:06 pm to SloaneRanger
quote:Most Americans live paycheck to paycheck and don’t save anything. And if their income increased 25% they would still spend all the money they made. Anyone that saves a portion of their income per month and invests it in low cost index funds should be doing reasonably well at this point.
For those of us lucky to own a lot of equities we have stayed flat or fallen a little behind. Most Americans haven’t been so lucky.
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