And perhaps with some job losses now taking place.... same reason? Not able to afford the house payments so selling to get out of the mortgage of high priced real estate?
Want a good proxy for where the economy is headed? Visit your local animal shelter (especially the ones in cities). Lots of evictions taking place and huge increase in pet surrenders. Fed and Gov keep creating bubbles but never allow return to a sustainable base (which will be painful). Can't even get interest rates close to the rate of price increases without breaking the banks, housing, etc.
Perhaps some of the ones who bought at higher prices... are now regretting the move and selling to get out? You know... the ones who bought houses sight unseen? and offering 10% above listing price? Just find it curious... something just does not quite make sense to me. (but that doesn't take much!!)
I think the word "resales" is throwing you off. A better term would be existing home sales. The most important takeaway is that there is very low inventory of homes for sale and when they are available are being bought quickly.
The good news is that yoy housing prices have fallen on national basis, much more in specific markets such as SF. The main reason that supply is so low is that almost everyone with a mortgage is locked in around 3-4%. Most of these people will not sell unless forced because they cannot afford to purchase another home at 7-8% (historically average rates btw).
@derryb said:
If eggs are anything like tomatoes, it's cheaper to not grow your own.
Just a little bit of "work". Miniscule financial costs, the girls pay for a months keep in approximately 5 days. That leaves 24.5 days of profit. Much better returns than the gutter I can honestly say and it's not even a conscious attempt to generate income. RGDS!
More than just a "little" work, I suspect.
How are the eggs doing after a few months in the safe ?
No safe, no bunker, no doom and gloom. They either get swapped out for useful dollars to purchase other necessities or they get eaten with a few days. In The Commonwealth we call that #Livin RGDS!
Livin' day to day. Also known as living paycheck to paycheck like a lot of people.
Learn to pay yourself first and before you know it you will stop worrying about the livin paycheck-to-paycheck thing. RGDS!
Home buyers will pay a currently higher sales price if they need to buy and fear interest rates will rise. FED policy controls 90% of the housing market.
@derryb said:
Home buyers will pay a currently higher sales price if they need to buy and fear interest rates will rise. FED policy controls 90% of the housing market.
No it does not. Rates were 3x higher 42 years ago and housing starts adjusted.
Afforability matters most and interest rates are only part of the equation.
@derryb said:
Home buyers will pay a currently higher sales price if they need to buy and fear interest rates will rise. FED policy controls 90% of the housing market.
Afforability matters most and interest rates are only part of the equation.
then why do prices come down when rates go up? Monthly payment is more important than price to a buyer who is not paying cash. Monthly payment is used by a buyer to determine if he can afford the house.
@derryb said:
then why do prices come down when rates go up? Monthly payment is more important than price to a buyer who is not paying cash. Monthly payment is used by a buyer to determine if he can afford the house.
Monthly payment IS important -- but it is partly income and interest rate determined.
What you have to understand is that prices are being kept afloat by private equity which is now 25-35% of all single-family homes purchases in some areas. Nationally, they may control 40% of all 1-family houses by 2030.
Lots of people turning cash into metal. Some of my regular dealers are out , and I'm on a 4 week wait. To me, that means demand is outweighing supply... Again. The economy ? We have a few dozen chickens. Thankfully Spring is here. Feed isn't cheap. $13 per bushel avg, for grain/ scratch grain, layer feed etc. and the girls have to eat. I don't have to service the "gutter", blitzkriegdude.
And egg sales at $3.50 per dozen barely feeds them in winter.
In this economy, beans and rice are nutritious and delicious, as always. Steak ? What's that? Where's the beef ?
@TwoSides2aCoin said:
Lots of people turning cash into metal. Some of my regular dealers are out , and I'm on a 4 week wait. To me, that means demand is outweighing supply... Again. The economy ? We have a few dozen chickens. Thankfully Spring is here. Feed isn't cheap. $13 per bushel avg, for grain/ scratch grain, layer feed etc. and the girls have to eat. I don't have to service the "gutter", blitzkriegdude.
And egg sales at $3.50 per dozen barely feeds them in winter.
In this economy, beans and rice are nutritious and delicious, as always. Steak ? What's that? Where's the beef ?
Let the girls free range, you will get more bang for your buck. We are paying $21 per 50lb bag of organic non-gmo layer crumbles. Even in the dead of winter a single bag will yield us about $40 in sold eggs plus all that me and momma can eat. Mid spring to late fall that same bag will yield about $90 in sold eggs and again all that we can eat. And that's letting them go at $3/dz. For organics I could easily sell all we got at $5/dz but here in The Commonwealth I'm a community dude. RGDS!
Cal-Maine Foods, the biggest U.S. producer of eggs, reported sales doubled and profit surged 718% last quarter from a year earlier amid soaring supermarket egg prices.
The Mississippi-based company, which produces eggs branded Eggland’s Best and Land O’Lakes, reported its average selling price for a dozen eggs jumped to $3.68 in the quarter that ended Feb. 25 from $1.46 a year earlier.
They did not have the flu, but certainly benefitted from it.
@Goldminers said:
Cal-Maine Foods, the biggest U.S. producer of eggs, reported sales doubled and profit surged 718% last quarter from a year earlier amid soaring supermarket egg prices.
The Mississippi-based company, which produces eggs branded Eggland’s Best and Land O’Lakes, reported its average selling price for a dozen eggs jumped to $3.68 in the quarter that ended Feb. 25 from $1.46 a year earlier.
They did not have the flu, but certainly benefitted from it.
I'm not surprised! I saw in some stores.... their eggs were actually CHEAPER than the average generic brands! So I was thinking they were probably getting quite a few sales. Better product at better prices, at least for awhile.... Free markets in action.
Interesting article in the WSJ “America is Back in the Factory Business”. Early stages of a long term trend made possible by American management and technological prowess. Onshoring is likely to be modestly inflationary in the short run, but extraordinarily positive in the longer term.
But how much of that onshoring is more of an attempt to get some handle on transportation costs/timing? Inventory control? In many cases, any higher costs from onshoring due to local content can be / have been / will be passed along to the consumer.
@Higashiyama said:
Interesting article in the WSJ “America is Back in the Factory Business”. Early stages of a long term trend made possible by American management and technological prowess. Onshoring is likely to be modestly inflationary in the short run, but extraordinarily positive in the longer term.
Actually, it's been predicted for years. China's 1-Child Policy is finally starting to bite them in the you-know-what and the labor supply will be declining for the first time since 1950. India has surpassed China in population. By 2050, China will see her population shrink from 1.3 billion to about 750 million.
These policies, combined with rising living standards and GDP growth in other countries like India, means that labor costs which traditionally went up about 2% a year will be going up by 5% a year. Instead of doubling in 30 years, wages double in 12 years or go up 5-fold in 30 years.
@Wingsrule said:
But how much of that onshoring is more of an attempt to get some handle on transportation costs/timing? Inventory control? In many cases, any higher costs from onshoring due to local content can be / have been / will be passed along to the consumer.
Very true...but the HUGE labor cost disadvantage is finally turning.
Imagine......not buying something because it is too expensive. Such a novel idea. Lol
buying a product or service despite knowing the price is outrageous perpetuates inflation. Companies should be challenged to justify hikes and consumers shouldn’t be afraid to complain when not satisfied.
Oil, gasoline, heating oil, nat gas futures all at or below 2018 levels yet no mention of it ANY media. I guess it's not political season?
I don't suppose that has anything to do with our brilliant leadership selling off a large portion of the Strategic Petroleum Reserve, a significant portion of it to China? Nah, don't pay any attention to the man behind the curtain.
Gasoline is up 11.7% since Dec. 2022. Real inflation numbers from Shadowstats show a decline from 14.1% in February to 12.9% in March, while virtually ALL of the economic indicators continue down.
John Williams isn't the only commentator who points out that raising rates isn't doing anything to contain inflation, but it's sure doing a bunch to kill demand, including demand for refined oil products.
How's the largest component of the economy - home affordability doing? Aside from giving poor credit risks preferential treatment now (absolutely nothing was learned from 2008), how's the housing market doing?
Year over year new home sales, construction spending, retail sales, existing home sales, industrial production, manufacturing, capacity utilization - all down significantly. People are borrowing against home equity to pay their bills. Massive corporate layoffs continue.
Well, at least the Fed and JPM aren't losing their jobs. Nor are any gov.com employees. Interesting times.
Q: Are You Printing Money? Bernanke: Not Literally
Life is what you make it. You can be doom and gloom in the bunker or you can come outside and experience all this wonderful world has to offer. These are the GREATEST of times. RGDS!
@jmski52 said: Oil, gasoline, heating oil, nat gas futures all at or below 2018 levels yet no mention of it ANY media. I guess it's not political season?
I don't suppose that has anything to do with our brilliant leadership selling off a large portion of the Strategic Petroleum Reserve, a significant portion of it to China? Nah, don't pay any attention to the man behind the curtain.
US oil reserves is about 700 million barrels. The world consumes about 100 million barrels per day. You think a week's worth of supply would drop prices?
Gasoline is up 11.7% since Dec. 2022. Real inflation numbers from Shadowstats show a decline from 14.1% in February to 12.9% in March, while virtually ALL of the economic indicators continue down.
Doesn't change the fact that oil futures are at 2018 levels.
John Williams isn't the only commentator who points out that raising rates isn't doing anything to contain inflation, but it's sure doing a bunch to kill demand, including demand for refined oil products.
Sure seems to be lowering prices.
How's the largest component of the economy - home affordability doing? Aside from giving poor credit risks preferential treatment now (absolutely nothing was learned from 2008), how's the housing market doing?
Home prices remain strong due to lower inventory and steady demand.
Year over year new home sales, construction spending, retail sales, existing home sales, industrial production, manufacturing, capacity utilization - all down significantly. People are borrowing against home equity to pay their bills. Massive corporate layoffs continue.
Capacity utilization is at same level as 2018 and at 40 year average.
@jmski52 said:
Explain the mass layoffs if you think the economy is doing so well.
Amazon has hired over 1 million in the last decade. Now they layoff 30,000 and you think it's a disaster?
Or to use your logic, if the economy is doing so poorly why is a major airline looking to hire 50,000?
The economy is finally slowing. Folk will be laid off. We might even get that recession you thought we had a year ago. This cycle has happened 10 times during your life. This is nothing new, why do you act like it is?
Why do you choose to ignore the facts I posted in favor of the misinformation you posted?
The S&P500 PE ratio is at 23.5X TTM earnings. Is that too high? Considering that from 1870 until 1998 the PE ratio was below that level for all but about 2 years total. What justifies an S&P500 PE ratio today, at 5% fed funds rate, that is 50% higher than historical average?
@RobM said:
The S&P500 PE ratio is at 23.5X TTM earnings. Is that too high? Considering that from 1870 until 1998 the PE ratio was below that level for all but about 2 years total. What justifies an S&P500 PE ratio today, at 5% fed funds rate, that is 50% higher than historical average?
@RobM said:
The S&P500 PE ratio is at 23.5X TTM earnings. Is that too high? Considering that from 1870 until 1998 the PE ratio was below that level for all but about 2 years total. What justifies an S&P500 PE ratio today, at 5% fed funds rate, that is 50% higher than historical average?
@Goldminers said:
Unemployment report came in at 3.4% The last time it was this low was May 1969!
Don't worry, be happy.
Everything is about as good as it gets
3 million annual run rate of new jobs created. But population growth of only 1.5 million. And therein lies the problem.
@Goldminers said:
Unemployment report came in at 3.4% The last time it was this low was May 1969!
Don't worry, be happy.
Everything is about as good as it gets
3 million annual run rate of new jobs created. But population growth of only 1.5 million. And therein lies the problem.
Our daughter is due with her 3rd boy in week or two. Doing the best we can to help. LOL
@RobM said:
The S&P500 PE ratio is at 23.5X TTM earnings. Is that too high? Considering that from 1870 until 1998 the PE ratio was below that level for all but about 2 years total. What justifies an S&P500 PE ratio today, at 5% fed funds rate, that is 50% higher than historical average?
Is it the equivalent of premiums on PMs?
No. PMs have no earnings and buy/sell premiums on stocks are negligible. A better example might be buying a rental property for $100K but then realizing you can only rent it out for $400/mo.
@RobM said:
The S&P500 PE ratio is at 23.5X TTM earnings. Is that too high? Considering that from 1870 until 1998 the PE ratio was below that level for all but about 2 years total. What justifies an S&P500 PE ratio today, at 5% fed funds rate, that is 50% higher than historical average?
Is it the equivalent of premiums on PMs?
No. PMs have no earnings and buy/sell premiums on stocks are negligible. A better example might be buying a rental property for $100K but then realizing you can only rent it out for $400/mo.
You stated that stocks are trading at 23x when they should be at 15x. Isn't that the same as saying 90% silver is trading at 30x when it should be at 19x, as historically it trades close to spot?
If 2023 is a repeat of 2011, Congress will start seriously addressing the debt ceiling in May and will spend at least two months before resolving the issue.
From the date in 2011 that Treasury Secretary Geithner alerted Congress to the debt ceiling problem (January 6) until shortly after the issue was resolved (August 8), silver offered the highest return with SLV up 40.6%. The second highest return was recorded by gold (GLD), which was up 24.9%. Long-bonds had the third highest return during that period as reflected by TLT being up 17.9%.
During that same period of time, stocks and the U.S. dollar suffered. Spy fell 11.8% from January 6 to August 8, 2011, while QQQ fell 9.5% and the U.S. dollar fell 9.2%.
Based on actual 2011 results, gold, silver, and bond prices should increase in 2023 while Congress contends with the debt ceiling issue. On the other hand, stocks and the U.S. dollar are likely to decline.
@derryb said:
Has the current banking crisis become larger than the one in 2008> @cohodk said:
$1.43 for a dozen eggs at BJs. Dang!!
are the eggs now smaller?
Same size as in 2008.
Shame that your dollar has shrunk 41% in the same time frame.
41% loss in purchasing power since the great financial crisis.
That sure is a lot in a relative short period of time. Wonder if they can escalate it. LOL
Household income has increased 109% since 2008. Not to mention debt has decreased 87% and the net worth has increased somewhere in the neighborhood of 800%. #LIVIN
P.S. Pulled 27 eggs out of the coop this afternoon. RGDS!
Comments
And perhaps with some job losses now taking place.... same reason? Not able to afford the house payments so selling to get out of the mortgage of high priced real estate?
Want a good proxy for where the economy is headed? Visit your local animal shelter (especially the ones in cities). Lots of evictions taking place and huge increase in pet surrenders. Fed and Gov keep creating bubbles but never allow return to a sustainable base (which will be painful). Can't even get interest rates close to the rate of price increases without breaking the banks, housing, etc.
I think the word "resales" is throwing you off. A better term would be existing home sales. The most important takeaway is that there is very low inventory of homes for sale and when they are available are being bought quickly.
Knowledge is the enemy of fear
The good news is that yoy housing prices have fallen on national basis, much more in specific markets such as SF. The main reason that supply is so low is that almost everyone with a mortgage is locked in around 3-4%. Most of these people will not sell unless forced because they cannot afford to purchase another home at 7-8% (historically average rates btw).
Learn to pay yourself first and before you know it you will stop worrying about the livin paycheck-to-paycheck thing. RGDS!
The whole worlds off its rocker, buy Gold™.
Home buyers will pay a currently higher sales price if they need to buy and fear interest rates will rise. FED policy controls 90% of the housing market.
Give Me Liberty or Give Me Debt
No it does not. Rates were 3x higher 42 years ago and housing starts adjusted.
Afforability matters most and interest rates are only part of the equation.
then why do prices come down when rates go up? Monthly payment is more important than price to a buyer who is not paying cash. Monthly payment is used by a buyer to determine if he can afford the house.
Give Me Liberty or Give Me Debt
Monthly payment IS important -- but it is partly income and interest rate determined.
What you have to understand is that prices are being kept afloat by private equity which is now 25-35% of all single-family homes purchases in some areas. Nationally, they may control 40% of all 1-family houses by 2030.
Driving home from work this week we’ve noticed that about 1 in 5 vehicles on the road are tractor trailers. It’s certainly more than 1 in 10.
This is on I64 in Charleston. Goods are definitely on the move
Lots of people turning cash into metal. Some of my regular dealers are out , and I'm on a 4 week wait. To me, that means demand is outweighing supply... Again. The economy ? We have a few dozen chickens. Thankfully Spring is here. Feed isn't cheap. $13 per bushel avg, for grain/ scratch grain, layer feed etc. and the girls have to eat. I don't have to service the "gutter", blitzkriegdude.
And egg sales at $3.50 per dozen barely feeds them in winter.
In this economy, beans and rice are nutritious and delicious, as always. Steak ? What's that? Where's the beef ?
De-Dollarization Just Got Real
Lower Dollar, Higher Gold
Peter Schiff - "So, if we have high inflation and a recession at the same time, banks are going to fail.”
Give Me Liberty or Give Me Debt
Let the girls free range, you will get more bang for your buck. We are paying $21 per 50lb bag of organic non-gmo layer crumbles. Even in the dead of winter a single bag will yield us about $40 in sold eggs plus all that me and momma can eat. Mid spring to late fall that same bag will yield about $90 in sold eggs and again all that we can eat. And that's letting them go at $3/dz. For organics I could easily sell all we got at $5/dz but here in The Commonwealth I'm a community dude. RGDS!
The whole worlds off its rocker, buy Gold™.
Cal-Maine Foods, the biggest U.S. producer of eggs, reported sales doubled and profit surged 718% last quarter from a year earlier amid soaring supermarket egg prices.
The Mississippi-based company, which produces eggs branded Eggland’s Best and Land O’Lakes, reported its average selling price for a dozen eggs jumped to $3.68 in the quarter that ended Feb. 25 from $1.46 a year earlier.
They did not have the flu, but certainly benefitted from it.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
I'm not surprised! I saw in some stores.... their eggs were actually CHEAPER than the average generic brands! So I was thinking they were probably getting quite a few sales. Better product at better prices, at least for awhile.... Free markets in action.
Interesting article in the WSJ “America is Back in the Factory Business”. Early stages of a long term trend made possible by American management and technological prowess. Onshoring is likely to be modestly inflationary in the short run, but extraordinarily positive in the longer term.
But how much of that onshoring is more of an attempt to get some handle on transportation costs/timing? Inventory control? In many cases, any higher costs from onshoring due to local content can be / have been / will be passed along to the consumer.
Actually, it's been predicted for years. China's 1-Child Policy is finally starting to bite them in the you-know-what and the labor supply will be declining for the first time since 1950. India has surpassed China in population. By 2050, China will see her population shrink from 1.3 billion to about 750 million.
These policies, combined with rising living standards and GDP growth in other countries like India, means that labor costs which traditionally went up about 2% a year will be going up by 5% a year. Instead of doubling in 30 years, wages double in 12 years or go up 5-fold in 30 years.
HUGE difference !!
Very true...but the HUGE labor cost disadvantage is finally turning.
Imagine......not buying something because it is too expensive. Such a novel idea. Lol
buying a product or service despite knowing the price is outrageous perpetuates inflation. Companies should be challenged to justify hikes and consumers shouldn’t be afraid to complain when not satisfied.
We’ve All Been Way Too Accepting of Inflation https://www.bloomberg.com/opinion/articles/2023-04-11/inflation-consumers-are-too-passive-about-high-prices-for-cars-flights-hotels
Knowledge is the enemy of fear
debt/credit solves that problem , , , temporarily.
Give Me Liberty or Give Me Debt
European natural gas futures down 89% the fear induced spike.
Down 73% in the US.
Knowledge is the enemy of fear
Eggflation now moderating.... and wholesale egg prices are coming down. But I doubt prices will return to the pre crises level.
https://zerohedge.com/commodities/eggflation-ends-cal-maine-shares-down-most-2008
Oil, gasoline, heating oil, nat gas futures all at or below 2018 levels yet no mention of it ANY media. I guess it's not political season?
Knowledge is the enemy of fear
Oil, gasoline, heating oil, nat gas futures all at or below 2018 levels yet no mention of it ANY media. I guess it's not political season?
I don't suppose that has anything to do with our brilliant leadership selling off a large portion of the Strategic Petroleum Reserve, a significant portion of it to China? Nah, don't pay any attention to the man behind the curtain.
Gasoline is up 11.7% since Dec. 2022. Real inflation numbers from Shadowstats show a decline from 14.1% in February to 12.9% in March, while virtually ALL of the economic indicators continue down.
John Williams isn't the only commentator who points out that raising rates isn't doing anything to contain inflation, but it's sure doing a bunch to kill demand, including demand for refined oil products.
How's the largest component of the economy - home affordability doing? Aside from giving poor credit risks preferential treatment now (absolutely nothing was learned from 2008), how's the housing market doing?
Year over year new home sales, construction spending, retail sales, existing home sales, industrial production, manufacturing, capacity utilization - all down significantly. People are borrowing against home equity to pay their bills. Massive corporate layoffs continue.
Well, at least the Fed and JPM aren't losing their jobs. Nor are any gov.com employees. Interesting times.
I knew it would happen.
Life is what you make it. You can be doom and gloom in the bunker or you can come outside and experience all this wonderful world has to offer. These are the GREATEST of times. RGDS!
The whole worlds off its rocker, buy Gold™.
US oil reserves is about 700 million barrels. The world consumes about 100 million barrels per day. You think a week's worth of supply would drop prices?
Doesn't change the fact that oil futures are at 2018 levels.
Sure seems to be lowering prices.
Home prices remain strong due to lower inventory and steady demand.
Capacity utilization is at same level as 2018 and at 40 year average.
https://fred.stlouisfed.org/series/TCU
New homes sales and prices increased last month.
https://tradingeconomics.com/united-states/new-home-sales
United Airlines is looking to hire 50,000.
https://www.detroitnews.com/story/business/2023/05/03/united-airlines-plans-to-hire-50000-workers-through-2025/70180469007/
Industrial productionis at 2018 levels and near all time highs.
https://fred.stlouisfed.org/series/INDPRO
When one lives in the dark, they become the dark. Why you choose to live in the dark?
Knowledge is the enemy of fear
Explain the mass layoffs if you think the economy is doing so well.
I knew it would happen.
Amazon has hired over 1 million in the last decade. Now they layoff 30,000 and you think it's a disaster?
Or to use your logic, if the economy is doing so poorly why is a major airline looking to hire 50,000?
The economy is finally slowing. Folk will be laid off. We might even get that recession you thought we had a year ago. This cycle has happened 10 times during your life. This is nothing new, why do you act like it is?
Why do you choose to ignore the facts I posted in favor of the misinformation you posted?
Knowledge is the enemy of fear
You probably don't know who John Williams is, or why he does what he does, yet you call it misinformation.
And that, coho is part of the "misinformation" problem that pervades our whole media/gov.com complex.
As I've noted before, you may defend them but they don't have your interests in mind either. You may learn eventually.
I knew it would happen.
If you can't see misinformation then you are part of the problem.
And BTW---i know who I am, and that's all that matters. You may benefit from a similar stance.
Knowledge is the enemy of fear
The S&P500 PE ratio is at 23.5X TTM earnings. Is that too high? Considering that from 1870 until 1998 the PE ratio was below that level for all but about 2 years total. What justifies an S&P500 PE ratio today, at 5% fed funds rate, that is 50% higher than historical average?
fundamentals? lol
Give Me Liberty or Give Me Debt
Is it the equivalent of premiums on PMs?
Knowledge is the enemy of fear
Massive layoffs. Lol
https://www.marketwatch.com/economy-politics/calendar?&mod=home-page
Knowledge is the enemy of fear
Unemployment report came in at 3.4% The last time it was this low was May 1969!
Don't worry, be happy.
Everything is about as good as it gets
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
.
3 million annual run rate of new jobs created. But population growth of only 1.5 million. And therein lies the problem.
Knowledge is the enemy of fear
Our daughter is due with her 3rd boy in week or two. Doing the best we can to help. LOL
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Nice job report just like the last one. But did you see the revision!
Yes, but the Fed is waiting to see actual negative job growth month over month before it considers rate reductions.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
These reports have become a joke. Folks will start to just pay attention to the revisions.
No. PMs have no earnings and buy/sell premiums on stocks are negligible. A better example might be buying a rental property for $100K but then realizing you can only rent it out for $400/mo.
You stated that stocks are trading at 23x when they should be at 15x. Isn't that the same as saying 90% silver is trading at 30x when it should be at 19x, as historically it trades close to spot?
Knowledge is the enemy of fear
From Seeking Alpha,
If 2023 is a repeat of 2011, Congress will start seriously addressing the debt ceiling in May and will spend at least two months before resolving the issue.
From the date in 2011 that Treasury Secretary Geithner alerted Congress to the debt ceiling problem (January 6) until shortly after the issue was resolved (August 8), silver offered the highest return with SLV up 40.6%. The second highest return was recorded by gold (GLD), which was up 24.9%. Long-bonds had the third highest return during that period as reflected by TLT being up 17.9%.
During that same period of time, stocks and the U.S. dollar suffered. Spy fell 11.8% from January 6 to August 8, 2011, while QQQ fell 9.5% and the U.S. dollar fell 9.2%.
Based on actual 2011 results, gold, silver, and bond prices should increase in 2023 while Congress contends with the debt ceiling issue. On the other hand, stocks and the U.S. dollar are likely to decline.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
$1.43 for a dozen eggs at BJs. Dang!!
Knowledge is the enemy of fear
Has the current banking crisis become larger than the one in 2008> @cohodk said:
are the eggs now smaller?
Give Me Liberty or Give Me Debt
Same size as in 2008.
Knowledge is the enemy of fear
Shame that your dollar has shrunk 41% in the same time frame.
41% loss in purchasing power since the great financial crisis.
That sure is a lot in a relative short period of time. Wonder if they can escalate it. LOL
Give Me Liberty or Give Me Debt
Household income has increased 109% since 2008. Not to mention debt has decreased 87% and the net worth has increased somewhere in the neighborhood of 800%. #LIVIN
P.S. Pulled 27 eggs out of the coop this afternoon. RGDS!
The whole worlds off its rocker, buy Gold™.
Like Blitz alluded to, we be productive folk. We nourish our chickens to continue producing more and more eggs.
It's the non-productive folk that complain their eggs are too small.
Knowledge is the enemy of fear