Biggest crash in stock market history?

TimBay said:
Ugh. Not the least bit surprising. What's interesting to me is, based on the article, all he had to do was keep the PPP in a separate account to make payroll and pay for business expenses, then he could've kept all the profit from the business and bought the same crap. Everything is fucked and I can't think of a single sensible solution to save the dying middle class. Oh well.
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"Dying middle class"? Middle class is over 50% of the population and has been "dying" for generations. Since Dave's 1971, the percentage of the middle class dropped by 9% - basically half moved up to upper class, half moved down to lower class.
 
Dave Taylor said:
Looking back the middle class started dying in 1971 when the dollar detached from gold. Corporate profits started way outpasi g compensation and the little guys got F’d
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It's also around the time that china and the east opened up for manufacturing. Good paying jobs all got shipped to cheap labor overseas, which took all the weight out of collective bargaining. It shifted the supply and demand in employment.
 
rick81721 said:
"Dying middle class"? Middle class is over 50% of the population and has been "dying" for generations. Since Dave's 1971, the percentage of the middle class dropped by 9% - basically half moved up to upper class, half moved down to lower class.
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Costs of living have outpaced income growth. Being middle class now is jot the same as it was in 1971. Think about your first house, cost of your education and the income you were earning at the time. Now consider the current cost of that same house, cost of education and income for the same position. I would predict a significant difference in cost to income ratio. Personally, I'm just gonna keep working hard and try to keep move up. Nothing else for me to do. But I worry about the direction things are going for young/future generations. Eh, they'll figure it out.
 
all just math problems - esp when compounding over multiple years.
people want to get paid more, then the cost of things go up, the business want their profit as a percentage, so that goes up, restart cycle.
real estate is demand based. probably some cheap places in bergen county right now.
population is growing - that creates demand.

i claim it is the people that are a drag on society. And i don't mean the disabled. The people that choose not to work,
living in section 8 housing, and selling their food stamps (er card) for cigarette money.
And now we feel it is our fault that society did something wrong when they were young, and we need to make up for it.

I don't really feel that way - i just needed another good alt/ rant.
carry on.
 
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Patrick said:
probably some cheap places in bergen county right now.
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A neighbor who has a moving company has said their last 6 moves were all NYC into Bergen Cty. The demand is high now. Some NYC people are buying homes knowing their employers will have them WFH for at least another year, and they will let go of their NYC $4K and up apartment leases (one coworker pays that for 600 sq ft).
 
JerseyPete said:
A neighbor who has a moving company has said their last 6 moves were all NYC into Bergen Cty. The demand is high now. Some NYC people are buying homes knowing their employers will have them WFH for at least another year, and they will let go of their NYC $4K and up apartment leases (one coworker pays that for 600 sq ft).
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we are seeing an uptick in the "escape from bergen" crowd.
 
TimBay said:
Costs of living have outpaced income growth. Being middle class now is jot the same as it was in 1971. Think about your first house, cost of your education and the income you were earning at the time. Now consider the current cost of that same house, cost of education and income for the same position. I would predict a significant difference in cost to income ratio. Personally, I'm just gonna keep working hard and try to keep move up. Nothing else for me to do. But I worry about the direction things are going for young/future generations. Eh, they'll figure it out.
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Really depends where you live - for a place like NJ, probably true.
 
rick81721 said:
Really depends where you live - for a place like NJ, probably true.
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I grew up in a middle class neighborhood where no ones mother worked back in the 70's. Everyone had one or two cars, went on vacations, blah, blah, blah. All with one earner. My dad was an EE by trade only. No schooling. Forget trying that now.
 
Patrick said:
all just math problems - esp when compounding over multiple years.
people want to get paid more, then the cost of things go up, the business want their profit as a percentage, so that goes up, restart cycle.
real estate is demand based. probably some cheap places in bergen county right now.
population is growing - that creates demand.

i claim it is the people that are a drag on society. And i don't mean the disabled. The people that choose not to work,
living in section 8 housing, and selling their food stamps (er card) for cigarette money.
And now we feel it is our fault that society did something wrong when they were young, and we need to make up for it.

I don't really feel that way - i just needed another good alt/ rant.
carry on.
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Tobacco and beer—->two of the biggest wastes of money.
 
mtnbiker49 said:
Tobacco and beer—->two of the biggest wastes of money.
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unfortunately, the meaning of sharing of tobacco, alcohol, and citrus fruit has been lost to the ages.

once they became readily available for little money, abuse set in.

I was once one of those people drinking half a case of piss water beer a night.
Now a single beer, dropped off by a friend, is special again.
No different than an ice cream cone, or mocha skinny latte grande with a turbo shot.
 
I am not sure what a technicals investor is. I think that means momentum, charts, etc? Like palm reading or crystal balls? I WAS a fundamental investor, but the equity indicies ( careful not to call them markets) are no longer directed by fundamentals, but instead by debt, and nearly interest free debt. The federal reserve is creating asset bubbles on anything that can be financed. The PEs of equities today are the same as they were last year, and yet, lots of companies have cut dividends! Half of historical total return is from dividends. So I see equities as overpriced, and yet see nowhere else to put money to work. Except...
Here's an inflation hedge for you. If your grandpa bought a Colt 1911 in 1911, it would have cost him $14.25 and still work today. If you go to buy one today.... $800? An asset that you can't finance, and so has not been bubbled by the fed.
 
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I added to my shorts with some SDOW put options July $25 after the dow 30 tagged the trendline from march 2009. Up about 15% on them in 3 hours. I got stopped out of about 60% of my shorts but still have some that are doing well. Aapl looks to have just made a double top. Let’s see if FNGD can get some momentum.
 
I was on the phone with my sister and she mentioned now is a really good time to make money. Private Schools, colleges and universities are actually reaching into their endowments to invest in private deals. She said she couldn't recall her job being easier.
 
This market is way off the rails, but if you'r long in just about anything, you are WINNING! I unfortunately am cash heavy. As of now, I would have done better to just NOT look at my investments at all. We'll see where this goes in the upcoming months, but man this didn't play out the way I expected.

We'll see where we are a few months down the road, but as of now the FED backdrop sure is working. At the expense of Trillions in taxpayer dollars, but everyone seems to playing under the assumption failure for big business is impossible. An "unfree" free market.

Carnival Cruise lines is up almost 21% today as of now. I bought some when it dipped below 9 not long ago, then sold as it approached 13. I was patting myself on the back for that one. Now...not so much patting :)



I've had
 
pkovo said:
This market is way off the rails, but if you'r long in just about anything, you are WINNING! I unfortunately am cash heavy. As of now, I would have done better to just NOT look at my investments at all. We'll see where this goes in the upcoming months, but man this didn't play out the way I expected.

We'll see where we are a few months down the road, but as of now the FED backdrop sure is working. At the expense of Trillions in taxpayer dollars, but everyone seems to playing under the assumption failure for big business is impossible. An "unfree" free market.

Carnival Cruise lines is up almost 21% today as of now. I bought some when it dipped below 9 not long ago, then sold as it approached 13. I was patting myself on the back for that one. Now...not so much patting :)



I've had
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Too screwed up to touch my stocks. They're unreasonably high right now, but at the moment I'm glad I didn't dump them earlier.

@Dave Taylor Where would you be if you had just ridden the end of the world right back to where we are now? Just curious if you track that.
 
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