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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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