The Prowler's stocks & investments musta tanked pretty hard today....
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Joe, Joe, Joe... 
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Don't you invest in collectibles?
Most collectibles are only valuable as long as there is a population of people that care about those items. The generation that cares about them will be gone one day. Then what?
You hope a new generation cares enough to invest?
There is no guarantees in the stock market, in anything really. However, over a longer term the stock market has made money for those who have hung on.
You can't invest in the markets and react neurotically to every dip.
It doesn't make any sense.
People are free to make their own choices without interference from strangers
on the internet, don't you think?
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Prowler hasn’t posted a receipt in several weeks, and I don’t know how I feel about that.
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The stock market is a bit like a casino except at *this* casino if really high rollers are out a lot of money the gubmint steps in to apologize and cover their losses.
Privatized profits + Public-backed risk = socialism for the wealthy; capitalism for the rest of us.
Privatized profits + Public-backed risk = socialism for the wealthy; capitalism for the rest of us.
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Not really.
In a casino, the average player loses money. Over time, the casino takes a profit.
With stocks, the average investor makes money. Most businesses make a profit and that profit is passed onto the shareholders.
How much money does the average investor make?
Here is a recent article:
"Using Shiller’s data, since 1971 the S&P 500 has delivered an annualized return of 7.58%—or 10.51% with dividends reinvested."
This touches on something that some people like Senile @Joe do not seem to understand. He will look at just the charts, and see an annualized return of 7.58% because he is only looking at the value of the index. But, and I told Senile @Joe this a while ago, to fully appreciate all the profits, you need to consider the dividends. That 7.58% is misleading, because it excludes dividends. By reinvesting dividends, investors can expect over 10% annual gains over time.
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If Prowl
No go back to gawking at Gym Rat pr0n.
Nobody gaf you bald pinhead, he was just poking at you.
No go back to gawking at Gym Rat pr0n.
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I did say a bit like a casino, not exactly like.
But the bailouts for billionaires (a trillion a day pumped into the stock market in 2008 while average people lost homes, etc.) was spot fucking on. The stock market gambles of the obscenely wealthy get underwritten by the USA treasury; the rest of us take our chances.
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Yes, you were spot on about that. Of course, there is a revolving door between Wall Street and the WH/government.
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...funny thing is... I addressed this thread ta you.
However, @Lily of Denial appears ta have taken it more personally than you. Maybe Rancid too.
Butcha know Prowler, I checked the Globe and Mail and all of the major Stock Market indices were down today, eh? TSX, DOW, S&P, NASDAQ .... ? And Bitcoin too got hammered, eh?
They were all havin' a bad day....
....except....fer GOLD @The Prowler !
I bought some Gold 'n Silver on the weekend anticipatin' a bounce when the markets opened today. particularly with that Iran attack on Israel.
Guess what? Went up today. Those were virtually the only things that went up.
Bitcoin really took a hit.
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Ya see @The Prowler...you may think I'm old, but I remember the 1970s
That decade was a washout for stocks cuz all the supposed gains got eaten away from inflation. Same thing as today, eh?
So...even if yer stocks go up 2-3%, doesn't help much if the inflation rate is 6-7% +. Cuz what's happening is that yer equities on the stock market are losing ground. And that's what happened during the 1970s.
Mind you...gold, silver & other commodities aren't always a good investment or the place to be. But in an inflationary low growth/no growth environment, if they are the only thing that's going up in value, that's where the average investor oughta be.
See, I was thinkin that if the gold, silver go up in value, and then there's a correction or crash in 2025/26, that's the time ta sell a bit of the gold/silver if it's gone up in value while stocks have gone South. Then Buy stocks at a discount.
....Sound like a plan?
That's what Buffet, Jamie Diamond, Ray Dalio, Jeff Bezos & the Boys are doin' Prowler.
Plus they're buyin' gold eh?
That decade was a washout for stocks cuz all the supposed gains got eaten away from inflation. Same thing as today, eh?
So...even if yer stocks go up 2-3%, doesn't help much if the inflation rate is 6-7% +. Cuz what's happening is that yer equities on the stock market are losing ground. And that's what happened during the 1970s.
Mind you...gold, silver & other commodities aren't always a good investment or the place to be. But in an inflationary low growth/no growth environment, if they are the only thing that's going up in value, that's where the average investor oughta be.
See, I was thinkin that if the gold, silver go up in value, and then there's a correction or crash in 2025/26, that's the time ta sell a bit of the gold/silver if it's gone up in value while stocks have gone South. Then Buy stocks at a discount.
....Sound like a plan?
That's what Buffet, Jamie Diamond, Ray Dalio, Jeff Bezos & the Boys are doin' Prowler.
Plus they're buyin' gold eh?
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I'm old enough to remember Obama selecting many (all?) of his cabinet from "suggestions" given to him by Citigroup.
Thanks Wikileaks!
Not that there's anything strange about revolving doors in D.C.
Anywhere there are governmental or regulatory oversight offices there are revolving doors to lobbying firms and the industries themselves allegedly being regulated.
At this point the corruption is baked in.
Best to tear it all down and start anew.
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Even without Wikileaks all you need to know is the names of these cabinet members and recognize them from Wall Street names. It's not like they hide this. It's done out in the open.
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Conservatives are freaking the fuck out when a Democrat attempts to ease student loan debt. The US Government Own the overwhelming majority of Student Debt. Cut taxes on Jeff Bezos, hey he's a job creator it'll trickle down yo!
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Yeah, I get those arguments but if you want someone to oversee the Treasury Department do you go scouting for firemen and tig welders? To get to the level of expertise you desire to make those decisions, the talent pool becomes increasingly shallow.
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Of course it is @Garraty_47
It runs on the same principles of chance and probability.
And the stock market is rigged just like a gambling house.
That's why they invented AI - for the benefit of wealthy investors to cushion losses on the stock market and ta give 'em the best picks when they buy.
What I've noticed is when there's a CRASH.....they HALT trading and they don't allow THE FREE MARKET to prevail. No sirree Roberta. Fuck that's not a Free Market. That's bullshit.
They aint gonna have no repeat of 1929 when investors jumped outta windows or shot themselves in the head after they lost everything in a crash.
Caint have none of that. That'd be...INHUMANE! Suffering is for the POOR and MIDDLE CLASS ONLY.
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Well, but whose going to regulate the regulators that write policy for the benefit of themselves and the wealthy class?
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Joe the Plumber, Marge, Lauren Boebert?
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The incidence of suicides after the '29 crash were greatly exaggerated.
If anything, it's a benefit to the obscenely wealthy. It dips, sometimes deeply, then the really wealthy buy everything like it's a fire sale.
The poor pay in terms of job losses and inflation. They don't have money in the market. They can't afford it.
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You can keep deflecting with sarcasm and make it a "troll". It doesn't begin to open a discussion about our own economy. But hey, it's meltdown...we can't have a decent conversation here. It's the rules.
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I stated my opinion. You want people that have a background in the area, is the commonly accepted norm. Why is that hard to understand? Sure that presents challenges, But like I said, do you want a Banker overseeing the banking system or the Social Studies teacher?You can keep deflecting with sarcasm and make it a "troll". It doesn't begin to open a discussion about our own economy. But hey, it's meltdown...we can't have a decent conversation here. It's the rules.
When I had my multiple hip surgeries over the last couple years, I was extremely happy to have a Doctor that had graduated form an accredited Med School and had several years of experience in the field, even if he was employed by Uncle Sam.
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Actually @Lily of Denial I think a lot of common people back in the 1920s had a lot of money invested the stock market. Then as now, they expected it to fund their retirements, improve their standard of living. Of course we knew the opposite happened.
They still do it, but now it's in the the form of 401k plans, ETFs, managed risk funds. Its handlers are a bit more clever how the market and sell it to the public tho.
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It's not hard to understand. There are people that have a background that don't work in investment banking, academics for example.
What's so hard to understand about that? When the fuck did I say Joe the Plumber or Lauren Boehbert were acceptable options?
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"The stock market's popularity grew throughout the 1920s, but only 2.5% of Americans had brokerage accounts; the overwhelming majority of Americans had no direct personal stake in Wall Street. The stock market's collapse, no matter how dramatic, did not by itself depress the American economy."
What has made more Americans involved in the stock market are economic and tax policy such as deferred compensation. More people invest now, to avoid taxation on some of their earnings, than ever in American history.
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Our Government has a Branch we call Congress which has two parts, one of those parts is called The House, the House is empowered to oversee the Executive Branch to advise and consent, sadly our Congress, the House in particular has become a clowncar over the last several years and haven't really focused on their core responsibilities in some time, but that doesn't make the decision to hire the best person for the job of running a Cabinet Department any less important.
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Oversight of the executive branch is one of Congress's main responsibilities. In recent years, Congress has explored ways to modernize its operations in this area, including regulatory oversight and congressional legal representation for working with the executive branch. To help, we researched Congress's options.Dec 19, 2023
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Hey I need someone with banking and economics expertise over at Treasury who ya got?
since January 26, 2021. She previously served as the 15th from 2014 to 2018. She is the first woman to hold either post, and has also led the White House .
Born and raised in , Yellen graduated from in 1967 and earned a in economics from in 1971. She taught as an at from 1971 to 1976, was a staff economist for the Federal Reserve Board from 1977 to 1978, and was a faculty member at the from 1978 to 1980. Yellen is at the and the , where she has been a faculty member since 1980 and became the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Professor of Economics.
Yellen served as a member of the from 1994 to 1997 and was nominated to the position by President , who then named her chair of the from 1997 to 1999. She subsequently returned to academia, before serving as president and chief executive officer of the from 2004 until 2010. Afterward, President chose her to replace as from 2010 to 2014 before nominating her to succeed as chair of the Federal Reserve three years later. She was succeeded by after President declined to renominate her for a second term. Following her departure from the Federal Reserve, Yellen joined the as a distinguished fellow in residence from 2018 until 2020, when she again went into public service.
On November 30, 2020, President-elect nominated Yellen to serve as secretary of the treasury; she was confirmed by the on January 25, 2021, and took office the next day.
since January 26, 2021. She previously served as the 15th from 2014 to 2018. She is the first woman to hold either post, and has also led the White House .
Born and raised in , Yellen graduated from in 1967 and earned a in economics from in 1971. She taught as an at from 1971 to 1976, was a staff economist for the Federal Reserve Board from 1977 to 1978, and was a faculty member at the from 1978 to 1980. Yellen is at the and the , where she has been a faculty member since 1980 and became the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Professor of Economics.
Yellen served as a member of the from 1994 to 1997 and was nominated to the position by President , who then named her chair of the from 1997 to 1999. She subsequently returned to academia, before serving as president and chief executive officer of the from 2004 until 2010. Afterward, President chose her to replace as from 2010 to 2014 before nominating her to succeed as chair of the Federal Reserve three years later. She was succeeded by after President declined to renominate her for a second term. Following her departure from the Federal Reserve, Yellen joined the as a distinguished fellow in residence from 2018 until 2020, when she again went into public service.
On November 30, 2020, President-elect nominated Yellen to serve as secretary of the treasury; she was confirmed by the on January 25, 2021, and took office the next day.
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