At 10:41 PM 10/13/2007, you wrote:
When I was 9, I received .25 in
allowance. With that, I could see 3 westerns and 5 cartoons, get a huge
popcorn and a giant coke at the theater. (Only on Saturday
afternoons). The movie cost was .09 of that and I walked the 3 miles to
and from the show. Gas was .23 per gallon. Most had no tv and we
listened to the radio for entertainment when at home but mostly, we interacted
with friends and played games outside, summer or winter.
In the
early 80's, under Carter, we had not only 20+% interest, we had about that in
unemployment. Real estate was dead. Not down .. dead! The
Federal Government put a hold on pay raises by private firms. On October
the 19th 1987 the stock market dropped from 2500 to an interday low of under
1000. It ended the day off 25% which today, would be a drop of 3500
points. It was the largest loss in the history of the DOW, percentage
wise.
They say what doesn't kill you, makes you stronger.
Black Monday was a test of that theory.
Bob
Everyone that uses
technical analysis looks at past action to see what the future might
hold. That is all that I am doing. I don't know how old you are,
but unless you are over 50 you have no idea what can happen. You
haven't seen a 1987 type crash, You haven't seen 20% plus interest
rates. If things with the balance of payments and national debt are
not brought under control the interest on the debt will take more and more
money to pay it off. Especially since the government has seen fit to
move most of that debt to short term instruments. You could see the
dollar like the Lira before it went to the Euro. 15,000 Lira for a cup
of coffee if you sit down to drink it. Less if you stand.
I come from a generation where hotdogs were a dime and hamburgers were 15
cents. I just paid $12 for a hamburger. Granted it wasn't Burger
King, but still.
We are curently
spending $2 billion a week in Iraq and there are no funds for anything
domestic that should be taken care of. True a billion isn't what it
used to be, but it is still a lot of money.
Ira
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