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(RealClear)   The Dow crosses 16,000 for the first time ever as the Bush recovery gains steam   (realclear.com) divider line 227
    More: Spiffy, steams  
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3999 clicks; posted to Business » on 18 Nov 2013 at 12:31 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-11-18 11:03:10 AM  
the rich are getting richer. and leon's getting laaarger.
 
2013-11-18 11:05:30 AM  

FlashHarry: the rich are getting richer. and leon's getting laaarger.


Good thing there's a sale at Penney's!
 
2013-11-18 11:07:15 AM  

Nogrhi: FlashHarry: the rich are getting richer. and leon's getting laaarger.

Good thing there's a sale at Penney's!


I have a fridge AND a microwave.  That's living large, baby.  Living large.
 
2013-11-18 11:07:55 AM  
The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!
 
2013-11-18 11:11:29 AM  
I like the title. It has taken this long just to start seeing signs of recovering from Bush.
 
2013-11-18 11:52:15 AM  

kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!


http://www.ici.org/policy/retirement/plan/401k/faqs_401k

I KNOW!
It is terrible that those 50 million americans with 401ks had any growth in their retirement accounts!!!

/oh wait, no it isnt. it is awesome. My account is up 34% this year. WOHOO
/strange, but this is good news for unemployment. in theory, those old farkers will be able to retire, opening up their jobs.
 
2013-11-18 11:53:04 AM  

Marcus Aurelius: Nogrhi: FlashHarry: the rich are getting richer. and leon's getting laaarger.

Good thing there's a sale at Penney's!

I have a fridge AND a microwave.  That's living large, baby.  Living large.


I have those AND a trash can!  WOOO HOOO!!!
 
2013-11-18 11:58:47 AM  

kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!


Well I don't want to come off as a guy who's got mine, but I do invest in the stock market through my 401k index funds and some high risk stock market money, and the past four years has been very good to me and my 401k.

The key to making money is investing it instead of consuming it. That isn't to say I don't believe in wage equality and reducing the ridiculous level of executive compensation for public companies, because I do. But if you have the means to invest some of your savings in securities, do it. The game is certainly rigged but only to a degree. You can still play the game if you know how.

If you're spending $3000 on Black Friday for a bunch of 'nice-to-haves' and you really can't afford to do that, you're doing it wrong and there's probably a reason you're a poors.

Often the difference between rich and poor is not salary but how that salary is used. That said, salaries under 30k a year suck and there needs to be a strong push for improving the minimum wage while limiting executive compensation. I like what the Swiss are doing.
 
2013-11-18 12:05:34 PM  

bdub77: I do invest in the stock market through my 401k


I've done well this year too. And I"m pretty happy about it. I will not be shopping Black Friday, but will be staying home, probably sewing something for the nieces and nephews, maybe doing some lawn work. Stacking wood. Anyone who leaves the Thanksgiving Day table to stand in line at Walmart/Macy's/whereeverthefark is open, you deserve you're no retirement.
 
2013-11-18 12:06:03 PM  
Somehow, I doubt this will be blamed on Bush.
 
2013-11-18 12:14:07 PM  
i586.photobucket.com
 
2013-11-18 12:18:06 PM  
So, since we're all stinking rich, we can raise the minimum wage to $15.00, right?
 
2013-11-18 12:23:16 PM  

bdub77: kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!

Well I don't want to come off as a guy who's got mine, but I do invest in the stock market through my 401k index funds and some high risk stock market money, and the past four years has been very good to me and my 401k.

The key to making money is investing it instead of consuming it. That isn't to say I don't believe in wage equality and reducing the ridiculous level of executive compensation for public companies, because I do. But if you have the means to invest some of your savings in securities, do it. The game is certainly rigged but only to a degree. You can still play the game if you know how.

If you're spending $3000 on Black Friday for a bunch of 'nice-to-haves' and you really can't afford to do that, you're doing it wrong and there's probably a reason you're a poors.

Often the difference between rich and poor is not salary but how that salary is used. That said, salaries under 30k a year suck and there needs to be a strong push for improving the minimum wage while limiting executive compensation. I like what the Swiss are doing.


Agreed. I just have a problem with people who would stop at nothing to make a profit even if it includes screwing other people and ruining our habitat. They should be prosecuted. Those 401k's that people have...Do they include stocks in unethical companies that kill and poison? If so, the small investor is just as guilty as the company CEO. My original comment was just stating fact.
 
2013-11-18 12:31:06 PM  
I'm so glad that the Fed's $3 trillion liquidity surge has buoyed stock prices to record highs while failing to pull the broader economy out of the doldrums for five years. Yellin's denial of a bubble before the Senate Banking Committee would be laughable if the consequences weren't so dire. Of course, she also argued against deflating the housing bubble before the 2008 crash calling it a bump in the road which the economy would be able to absorb with relative ease.
 
2013-11-18 12:31:38 PM  
We can't raise wages because of uncertainty. And Obamacare. Or something

/ceo's need 4 vacation houses
 
2013-11-18 12:33:08 PM  
www.bankonyourself.com
 
2013-11-18 12:33:28 PM  
I submitted this with a trollier headline.
 
2013-11-18 12:36:11 PM  

namatad: kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!

http://www.ici.org/policy/retirement/plan/401k/faqs_401k

I KNOW!
It is terrible that those 50 million americans with 401ks had any growth in their retirement accounts!!!

/oh wait, no it isnt. it is awesome. My account is up 34% this year. WOHOO
/strange, but this is good news for unemployment. in theory, those old farkers will be able to retire, opening up their jobs.


So, really, this is the Reagan trickle-down finally gaining steam! Woo-hoo!
 
2013-11-18 12:37:31 PM  

namatad: kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!

http://www.ici.org/policy/retirement/plan/401k/faqs_401k

I KNOW!
It is terrible that those 50 million americans with 401ks had any growth in their retirement accounts!!!

/oh wait, no it isnt. it is awesome. My account is up 34% this year. WOHOO
/strange, but this is good news for unemployment. in theory, those old farkers will be able to retire, opening up their jobs.



Hey dumbass. Check your account balance in 2006 so you can see how much you really lost before you start counting "gains".
 
2013-11-18 12:37:33 PM  
i1.sndcdn.comencrypted-tbn2.gstatic.com
 
2013-11-18 12:38:22 PM  

bdub77: kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!

Well I don't want to come off as a guy who's got mine, but I do invest in the stock market through my 401k index funds and some high risk stock market money, and the past four years has been very good to me and my 401k.

The key to making money is investing it instead of consuming it. That isn't to say I don't believe in wage equality and reducing the ridiculous level of executive compensation for public companies, because I do. But if you have the means to invest some of your savings in securities, do it. The game is certainly rigged but only to a degree. You can still play the game if you know how.

If you're spending $3000 on Black Friday for a bunch of 'nice-to-haves' and you really can't afford to do that, you're doing it wrong and there's probably a reason you're a poors.

Often the difference between rich and poor is not salary but how that salary is used. That said, salaries under 30k a year suck and there needs to be a strong push for improving the minimum wage while limiting executive compensation. I like what the Swiss are doing.


I'm so pleased you were able to steer this thread into a "Here's how you get rich, if you can be bothered to do some simple things" path.

Usually That Guy doesn't show up until much later in the thread.

\although I'll give you credit for doing it more subtly than most do
 
2013-11-18 12:38:50 PM  
a2.img.talkingpointsmemo.com
 
2013-11-18 12:39:02 PM  
And grandma's getting .01% on her Jumbo CD..WooHoo!
 
2013-11-18 12:39:40 PM  

nmrsnr: So, since we're all stinking rich, we can raise the minimum wage to $15.00, right?


Sure, that will certainly take care of that "need" for a college degree for quite a few office drones out there.
 
2013-11-18 12:39:57 PM  

kidakita: bdub77: kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!

Well I don't want to come off as a guy who's got mine, but I do invest in the stock market through my 401k index funds and some high risk stock market money, and the past four years has been very good to me and my 401k.

The key to making money is investing it instead of consuming it. That isn't to say I don't believe in wage equality and reducing the ridiculous level of executive compensation for public companies, because I do. But if you have the means to invest some of your savings in securities, do it. The game is certainly rigged but only to a degree. You can still play the game if you know how.

If you're spending $3000 on Black Friday for a bunch of 'nice-to-haves' and you really can't afford to do that, you're doing it wrong and there's probably a reason you're a poors.

Often the difference between rich and poor is not salary but how that salary is used. That said, salaries under 30k a year suck and there needs to be a strong push for improving the minimum wage while limiting executive compensation. I like what the Swiss are doing.

Agreed. I just have a problem with people who would stop at nothing to make a profit even if it includes screwing other people and ruining our habitat. They should be prosecuted. Those 401k's that people have...Do they include stocks in unethical companies that kill and poison? If so, the small investor is just as guilty as the company CEO. My original comment was just stating fact.



Many 401k's (mine included) are composed of index funds.  Index funds certainly have some bad apples in them because they're funds where no human makes the choice of what is and is not in them.  Index funds are also among the most intelligent long term investment choices as a result.

Reality is a bit more complicated than that simple worldview.
 
2013-11-18 12:40:13 PM  
Well, maybe the Job Creators can stop sitting on their piles and piles of profit and start hiring professionals again.
 
2013-11-18 12:40:37 PM  
Sure, but with all Taxbongos new taxes I may as well be losing money.

Thanks Obama.
 
2013-11-18 12:41:16 PM  
only $3,000 grand on black friday? Sheesh, you guys really are poors.
 
2013-11-18 12:41:59 PM  
S&P is at 18 times forward earnings.  Keep in mind, it was 14 two years ago, and it was 35 in 2000 before that crash.

One thing I've learned about bubbles after having been through 4 of them (NASDAQ, housing, oil, gold) is that the bubble can go much longer than I think it should.  With the exception of oil, all of those bubbles went on years after I thought they would pop.
 
2013-11-18 12:42:38 PM  

shifty lookin bleeder: [i1.sndcdn.com image 265x190][encrypted-tbn2.gstatic.com image 265x190]


www.photo-dictionary.com
 
2013-11-18 12:42:49 PM  
$3,000 grand is like a $3 million...or a week of work for me.
 
2013-11-18 12:43:39 PM  
And yet, we're still concerned with the economy...
 
2013-11-18 12:43:48 PM  
sablecity.files.wordpress.com
 
2013-11-18 12:44:21 PM  

namatad: It is terrible that those 50 million americans with 401ks had any growth in their retirement accounts!!!


And the 250 million that don't?
 
2013-11-18 12:45:36 PM  

nmrsnr: So, since we're all stinking rich, we can raise the minimum wage to $15.00, right?


Whoa!  Sounds like somebody doesn't understand trickle-down economics.

We really need to raise CEO pay.
 
2013-11-18 12:45:39 PM  

busy chillin': $3,000 grand is like a $3 million...or a week of work for me.



I can tell how successful you are by your sentence structure.
 
2013-11-18 12:45:48 PM  

balki1867: [a2.img.talkingpointsmemo.com image 652x365]

img.fark.net
Portrait of Subby thinking up impish headline

 
2013-11-18 12:46:53 PM  

theorellior: Well, maybe the Job Creators can stop sitting on their piles and piles of profit and start hiring professionals again.


Nope, too much uncertainty.  Better offer them some human sacrifices and maybe they'll deign to create some jobs for us.

busy chillin': $3,000 grand is like a $3 million...or a week of work for me.


Wait, you work?  Like you do stuff for money?!  GTFO you farking poor.
 
2013-11-18 12:47:17 PM  
My 401k is doing great, but I've been unemployed for a year and I have a PhD, so sorry if I don't share your enthusiasm.
 
2013-11-18 12:47:51 PM  

12349876: namatad: It is terrible that those 50 million americans with 401ks had any growth in their retirement accounts!!!

And the 250 million that don't?


They can be greeters at Wal-Mart.
 
2013-11-18 12:47:51 PM  
Maybe one of these Captains of Industry will relearn Henry Ford's innovation: you pay your workers enough to buy your products, you can make more of them.
 
2013-11-18 12:48:15 PM  
The key to getting rich is:

1) Get a good paying job. The higher the better
2) Save your money, don't spend it
3) Don't get a disease like cancer

You can all thank me later.
 
2013-11-18 12:50:03 PM  

DROxINxTHExWIND: namatad: kidakita: The rich got richer and the poor got poorer. Not news. This has been happening for years. Jump, you farkers!

http://www.ici.org/policy/retirement/plan/401k/faqs_401k

I KNOW!
It is terrible that those 50 million americans with 401ks had any growth in their retirement accounts!!!

/oh wait, no it isnt. it is awesome. My account is up 34% this year. WOHOO
/strange, but this is good news for unemployment. in theory, those old farkers will be able to retire, opening up their jobs.


Hey dumbass. Check your account balance in 2006 so you can see how much you really lost before you start counting "gains".


Dollar cost averaging, how does it work?
 
2013-11-18 12:50:25 PM  

bdub77: I like what the Swiss are doing.


Me too. Between the cheese and the army knifes...those guys have it going on!
 
2013-11-18 12:51:16 PM  

theorellior: Maybe one of these Captains of Industry will relearn Henry Ford's innovation: you pay your workers enough to buy your products, you can make more of them.


I thought Henry Ford's innovation was, "Deal with anybody to make money, even Nazis."
 
2013-11-18 12:51:51 PM  

Rapmaster2000: One thing I've learned about bubbles after having been through 4 of them (NASDAQ, housing, oil, gold) is that the bubble can go much longer than I think it should.  With the exception of oil, all of those bubbles went on years after I thought they would pop.


Amen...

I expected this one to pop 18 months to 2 years ago. Maybe another year? Not sure. I think the lame duck 2nd term could be a factor somehow, we kind of had that with Reagan, Clinton, Bush 2...

I have more than I should in cash and money markets at the moment but I just know that the minute I commit a material proportion of my net worth long equities, the market will tank. Yea I could write some calls or buy puts but then I have to worry about timing. This way I just wait...
 
2013-11-18 12:52:18 PM  
Personal Rate of Return from  01/01/2013 to  11/15/2013 is  31.0%


I'll take it.
 
2013-11-18 12:52:21 PM  

EyeballKid: theorellior: Maybe one of these Captains of Industry will relearn Henry Ford's innovation: you pay your workers enough to buy your products, you can make more of them.

I thought Henry Ford's innovation was, "Deal with anybody to make money, even Nazis."


I thought it was "Have anyone who disagrees with you murdered"
 
2013-11-18 12:52:50 PM  

impaler: The key to getting rich is:

1) Get a good paying job. The higher the better
2) Save your money, don't spend it
3) Don't get a disease like cancer

You can all thank me later.


I struggle with number 2. It's hard not to want to buy nice things. I like watches and Audis.  :)
 
KIA
2013-11-18 12:53:11 PM  
I wonder what happens once the Fed stops jamming amphetamines into the system?

The best example I read over the last weekend was this: a defibrillator is the right tool when a patient is in the middle of a heart attack, but it is a very, very bad tool once the crisis has passed and they are trying to resume normal functionality.
 
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