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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 8:35 pm to SloaneRanger
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.
2
Posted on 1/19/24 at 8:42 pm to slackster
quote:
Why do you do this in every thread like this?
Why do you ignore this in every thread like this. Are you really trying to tell us that a dollar has anywhere close to the same purchasing power that it did at the end of 2020? Because if you believe that then I really don't know what to say.
Are the prices of stocks up? Absolutely. So are the prices of the food I have to buy, restaurant meals, insurance, rent, etc. See how this works?
Posted on 1/19/24 at 9:48 pm to slackster
quote:Median net worth is up a lot in the past 5 years also.
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.
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