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(Marketwatch)   Good news everyone. The rich are getting richer as the DJIA closes above 15,000 for the first time ever   (marketwatch.com) divider line 38
    More: Spiffy, Greg McBride, Investment Company Institute, Vanguard, David Gordon Green, account balances, Conference Board, DJIA  
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346 clicks; posted to Business » on 07 May 2013 at 6:48 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-07 06:09:42 PM
I am glad the dow is up I am not rich but I gamble with stocks, also silver and gold. Better than keeping you money in the bank to be inflated into worthless paper.
 
2013-05-07 06:50:11 PM
If by 'the rich', you mean most American's pension plans, retirement funds, et al... then, yes.
 
2013-05-07 06:56:58 PM
and Leon's getting laaaaarger!
 
2013-05-07 06:59:07 PM

netizencain: If by 'the rich', you mean most American's pension plans, retirement funds, et al... then, yes.


What's a pension?
Retirement?

Stop speaking gibberish.
 
2013-05-07 07:02:17 PM
Damn you Obama! Why do you keep destroying big businesses?
 
2013-05-07 07:05:56 PM
I'm not rich, but my retirement account's up 11% this year and almost 20% over the last 12 months.  It's just about chump change at this point, but it'll be nice to have later.
 
2013-05-07 07:09:35 PM

Sergeant Grumbles: netizencain: If by 'the rich', you mean most American's pension plans, retirement funds, et al... then, yes.

What's a pension?
Retirement?

Stop speaking gibberish.


I agree for the most part. It is a shame Americans don't, or aren't able, to save more.

However, the housing bubble in the 2000s was a glorious opportunity for many middle-class Americans to make their fortunes. If they had sold their McMansions and walked away and invested their equity in 2005 or 2006, they would be laughing now. Unfortunately, the concept "buy low, sell high" seems foreign to most people's thinking.
 
2013-05-07 07:10:15 PM

rugman11: I'm not rich, but my retirement account's up 11% this year and almost 20% over the last 12 months.  It's just about chump change at this point, but it'll be nice to have later.


mine is up over 180% but i put all my eggs in 1 basket
 
2013-05-07 07:17:14 PM
Off to count my bitcoins
 
2013-05-07 07:17:19 PM

Brokenseas: However, the housing bubble in the 2000s was a glorious opportunity for many middle-class Americans to make their fortunes. If they had sold their McMansions and walked away and invested their equity in 2005 or 2006, they would be laughing now. Unfortunately, the concept "buy low, sell high" seems foreign to most people's thinking.


My guess is the average family wasn't buying a house for the equity.
 
2013-05-07 07:19:46 PM

Brokenseas: However, the housing bubble in the 2000s was a glorious opportunity for many middle-class Americans to make their fortunes. If they had sold their McMansions and walked away and invested their equity in 2005 or 2006, they would be laughing now. Unfortunately, the concept "buy low, sell high" seems foreign to most people's thinking.


Yep, this is quite true. I just closed yesterday some beachfront property on an island here in the Puget Sound. Considering I just nabbed a 1/2 acre for under $30k, with water, power, a nice view of Mt. Rainier and downtown Seattle, I'm very, very pleased with someone wanting to sell low to me.

fbcdn-sphotos-d-a.akamaihd.net

Even if it simply gives me a good place to camp out for a few years and a place to put a mooring buoy, I'll consider it a good investment. I have a feeling that if I keep it for 30+ years, the change in value will be similar to that of people buying beachfront property in Southern Cali back in the early 1960's. Beachfront property isn't exactly going down in demand and isn't in large supply.
 
2013-05-07 07:26:04 PM
i.qkme.me
 
2013-05-07 07:36:47 PM
You can largely blame quantative easing.  Feds buying up bad debt from banks, freeing up cash from large corporations, no other place to put the cash than the stock market.

Liberals love to say they think trickle down is a bad policy, but the Fed under Obama has largely practiced a pure form of it through QE.
 
2013-05-07 07:42:08 PM

rugman11: I'm not rich, but my retirement account's up 11% this year and almost 20% over the last 12 months.  It's just about chump change at this point, but it'll be nice to have later.


My numbers are 9% and 14% but I'm still happy about it after five years of stagnation. I would really like to retire in 20-30 years instead of being ground into food for the masses or working Walmart until death.

/bitterly clinging onto the middle class
 
2013-05-07 07:46:03 PM

MyRandomName: Liberals love to say they think trickle down is a bad policy, but the Fed under Obama has largely practiced a pure form of it through QE.


Trickle down theory = rich people getting tax cuts and hoping some of that money makes its way down to lower income folks

QE = the central bank buying mortgage backed securities, giving banks liquidity (after the worst recession, housing bubble and credit crisis ~70 years) so they can keep making loans to rich people, large businesses, small businesses and regular joes - aka. everyone.

Trying to equate one to the other is disingenuous at best.
 
2013-05-07 07:50:11 PM

MyRandomName: You can largely blame quantative easing.  Feds buying up bad debt from banks, freeing up cash from large corporations, no other place to put the cash than the stock market.

Liberals love to say they think trickle down is a bad policy, but the Fed under Obama has largely practiced a pure form of it through QE.


Is it trickling down to everyone or just the upper and middle class?

I mean, I've benefited from the stock-market rise due to QE, but I'd definitely consider myself upper-middle class. I'm not sure it's trickling down to anyone else, as I'm just saving everything.
 
2013-05-07 07:56:51 PM

Fonaibung: MyRandomName: You can largely blame quantative easing.  Feds buying up bad debt from banks, freeing up cash from large corporations, no other place to put the cash than the stock market.

Liberals love to say they think trickle down is a bad policy, but the Fed under Obama has largely practiced a pure form of it through QE.

Is it trickling down to everyone or just the upper and middle class?

I mean, I've benefited from the stock-market rise due to QE, but I'd definitely consider myself upper-middle class. I'm not sure it's trickling down to anyone else, as I'm just saving everything.


I make speckled dick for wages, but even so, I put money into my stock market account every week. It's laughably small compared to what others can do, but it's what I can afford, and I've been doing it since 2008. I am really proud of the gain.
 
2013-05-07 07:57:35 PM
kick Zoidberg off here.  i work HARD for MY MONEY!!

buys a Taurus SHO
 
NFA [TotalFark]
2013-05-07 08:24:31 PM

Jon iz teh kewl: rugman11: I'm not rich, but my retirement account's up 11% this year and almost 20% over the last 12 months.  It's just about chump change at this point, but it'll be nice to have later.

mine is up over 180% but i put all my eggs in 1 basket


I bought CBS in 2009 when the market hit bottom.  As of the close today, it's up 1339.62%
 
2013-05-07 08:27:09 PM

NFA: Jon iz teh kewl: rugman11: I'm not rich, but my retirement account's up 11% this year and almost 20% over the last 12 months.  It's just about chump change at this point, but it'll be nice to have later.

mine is up over 180% but i put all my eggs in 1 basket

I bought CBS in 2009 when the market hit bottom.  As of the close today, it's up 1339.62%


shiat man did you put $15000 in like i did
 
2013-05-07 08:57:04 PM
MrSteve007:
QE = the central bank buying mortgage backed securities, giving banks liquidity (after the worst recession, housing bubble and credit crisis ~70 years) so they can keep making loans to rich people, large businesses, small businesses and regular joes - aka. everyone.

TIL that some people actually believe this bullshiat.
 
2013-05-07 09:06:09 PM
6 months ago I pulled out my 401k and put it in gold.  A couple weeks ago I pulled it out of that and put it in bitcoins.  Tomorrow I'm pulling it out and buying a Snickers.
 
2013-05-07 09:09:03 PM

MyRandomName: You can largely blame quantative easing.  Feds buying up bad debt from banks, freeing up cash from large corporations, no other place to put the cash than the stock market.

Liberals love to say they think trickle down is a bad policy, but the Fed under Obama has largely practiced a pure form of it through QE.


Lol at equating trickle down to QE.  What community college gave you your economics PhD?
 
2013-05-07 09:30:41 PM
img.photobucket.com
 
2013-05-07 09:49:08 PM
And by everyone, you mean the 50% of households that are estimated to actually have a stake in the stock market.
 
2013-05-07 10:27:20 PM

BigLuca: 6 months ago I pulled out my 401k and put it in gold.  A couple weeks ago I pulled it out of that and put it in bitcoins.  Tomorrow I'm pulling it out and buying a Snickers.


oh god i feel ruined.  my life is a waste  *gunshot*
 
2013-05-07 10:50:26 PM

Jon iz teh kewl: BigLuca: 6 months ago I pulled out my 401k and put it in gold.  A couple weeks ago I pulled it out of that and put it in bitcoins.  Tomorrow I'm pulling it out and buying a Snickers.

oh god i feel ruined.  my life is a waste  *gunshot*


Naw, I like snickers.
 
2013-05-07 11:09:12 PM

BigLuca: Jon iz teh kewl: BigLuca: 6 months ago I pulled out my 401k and put it in gold.  A couple weeks ago I pulled it out of that and put it in bitcoins.  Tomorrow I'm pulling it out and buying a Snickers.

oh god i feel ruined.  my life is a waste  *gunshot*

Naw, I like snickers.


You should by a Twix, then run up to someone and say 'TWO FOR ME, NONE FOR YOU!'
 
2013-05-07 11:23:41 PM

ajgeek: BigLuca: Jon iz teh kewl: BigLuca: 6 months ago I pulled out my 401k and put it in gold.  A couple weeks ago I pulled it out of that and put it in bitcoins.  Tomorrow I'm pulling it out and buying a Snickers.

oh god i feel ruined.  my life is a waste  *gunshot*

Naw, I like snickers.

You should by a Twix, then run up to someone and say 'TWO FOR ME, NONE FOR YOU!'


Oh i don't think i could ever act like a banker
 
2013-05-07 11:39:45 PM
"Zimbabwe's stock market was the best performer this decade - but your entire portfolio now buys you 3 eggs"

~Kyle Bass
 
2013-05-08 12:06:07 AM

MyRandomName: You can largely blame quantative easing.  Feds buying up bad debt from banks, freeing up cash from large corporations, no other place to put the cash than the stock market.

Liberals love to say they think trickle down is a bad policy, but the Fed under Obama has largely practiced a pure form of it through QE.


Hmm, it's almost like Obama isn't the class warfare loving socialist that he is made out to be.

This shiat ain't trickling down for that matter.  I'm a high earner but being fairly young I don't have a large amount of investments so what I am receiving is just being dumped back into the market.  Considering the gains are going mostly to people that have a high marginal propensity to save and that companies aren't doing much hiring yet, this gain is largely benefiting a small segment of the nation.
 
2013-05-08 12:36:16 AM
Once they own it all they will drench the common man in showers of gold:

s15.postimg.org
 
2013-05-08 01:18:27 AM

MrSteve007: Brokenseas: However, the housing bubble in the 2000s was a glorious opportunity for many middle-class Americans to make their fortunes. If they had sold their McMansions and walked away and invested their equity in 2005 or 2006, they would be laughing now. Unfortunately, the concept "buy low, sell high" seems foreign to most people's thinking.

Yep, this is quite true. I just closed yesterday some beachfront property on an island here in the Puget Sound. Considering I just nabbed a 1/2 acre for under $30k, with water, power, a nice view of Mt. Rainier and downtown Seattle, I'm very, very pleased with someone wanting to sell low to me.



Even if it simply gives me a good place to camp out for a few years and a place to put a mooring buoy, I'll consider it a good investment. I have a feeling that if I keep it for 30+ years, the change in value will be similar to that of people buying beachfront property in Southern Cali back in the early 1960's. Beachfront property isn't exactly going down in demand and isn't in large supply.


Holy shiat that seems cool for 30k.
 
2013-05-08 01:23:09 AM
Listen kid.  Take it from me.  I got your back. Stay away from stocks.  Dogs like stocks and chase after them like car hub cabs on fast cars.  It always ends up the same way.  CRASH!

1.bp.blogspot.com
 
2013-05-08 02:26:06 AM
I'M RICH, biatch!
 
2013-05-08 02:30:18 AM

Superrad: rugman11: I'm not rich, but my retirement account's up 11% this year and almost 20% over the last 12 months.  It's just about chump change at this point, but it'll be nice to have later.

My numbers are 9% and 14% but I'm still happy about it after five years of stagnation. I would really like to retire in 20-30 years instead of being ground into food for the masses or working Walmart until death.

/bitterly clinging onto the middle class


15 and 25
WTF OBAMA?!!! you are destroying america
 
2013-05-08 07:40:29 AM

Brokenseas: Sergeant Grumbles: netizencain: If by 'the rich', you mean most American's pension plans, retirement funds, et al... then, yes.

What's a pension?
Retirement?

Stop speaking gibberish.

I agree for the most part. It is a shame Americans don't, or aren't able, to save more.

However, the housing bubble in the 2000s was a glorious opportunity for many middle-class Americans to make their fortunes. If they had sold their McMansions and walked away and invested their equity in 2005 or 2006, they would be laughing now. Unfortunately, the concept "buy low, sell high" seems foreign to most people's thinking.


You realize that in a speculative bubble with large transaction fees, the "average" American is guaranteed statistically to get stuffed, right? Housing bubbles make realtors and mortgage arrangers rich at the expense of homeowners (some win, sure, but more lose).
 
2013-05-08 11:12:39 AM

MrSteve007: Brokenseas: However, the housing bubble in the 2000s was a glorious opportunity for many middle-class Americans to make their fortunes. If they had sold their McMansions and walked away and invested their equity in 2005 or 2006, they would be laughing now. Unfortunately, the concept "buy low, sell high" seems foreign to most people's thinking.

Yep, this is quite true. I just closed yesterday some beachfront property on an island here in the Puget Sound. Considering I just nabbed a 1/2 acre for under $30k, with water, power, a nice view of Mt. Rainier and downtown Seattle, I'm very, very pleased with someone wanting to sell low to me.

[fbcdn-sphotos-d-a.akamaihd.net image 850x565]

Even if it simply gives me a good place to camp out for a few years and a place to put a mooring buoy, I'll consider it a good investment. I have a feeling that if I keep it for 30+ years, the change in value will be similar to that of people buying beachfront property in Southern Cali back in the early 1960's. Beachfront property isn't exactly going down in demand and isn't in large supply.


As a fellow seattleite please tell me where that is so I can get one.
 
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