@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Those numbers are also aided by stats like this...
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Was there ever a time in America when those stats were markedly different?
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Was there ever a time in America when those stats were markedly different?
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
It's not the economies fault if poor people have 50% more kids than wealthier people.
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Was there ever a time in America when those stats were markedly different?
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
It's not the economies fault if poor people have 50% more kids than wealthier people.
wealth inequality has nothing to do with the number of kids and everything to do with greed.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Was there ever a time in America when those stats were markedly different?
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
It's not the economies fault if poor people have 50% more kids than wealthier people.
It is true that lower income/wealth households are larger than the U.S. average. An example: a two-parent family with four children would be low-income even with an annual income of $50,000. A common situation in the U.S. as you know.
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Was there ever a time in America when those stats were markedly different?
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
It's not the economies fault if poor people have 50% more kids than wealthier people.
wealth inequality has nothing to do with the number of kids and everything to do with greed.
Indeed. It certainly is no fault of the kids. I live not far from Chicago and am saddened by the situation many children there endure.
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Was there ever a time in America when those stats were markedly different?
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
It's not the economies fault if poor people have 50% more kids than wealthier people.
wealth inequality has nothing to do with the number of kids and everything to do with greed.
Then number of lower income folk is growing faster due in large part to the poor having more kids.
The gap will continue to widen even if all income brackets grow at the same rate due to simple mathematics and compounding.
Can't believe how many people live in the moment. Stocks and markets fluctuate, always have and always will. If you think you can make money timing the ups and downs you are a day trader. I don't know one day trader that succeeded in the long term.
Oh, the DOW is up 480 points today....... lol
bob
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Those numbers are also aided by stats like this...
We are real close to a 10% drop since the start of this thread. Hope it stops in 'correction' range here...although this is what, the 3rd one this year. Waste of a year for a lot of the longs.
The XBI has already dropped 20% into bear market territory. You always need a good chunk of cash in your account to trade stocks within indexes with that kind of volatility or you can get crushed quickly.
At least the brokers and financial advisors can still collect their "cut" of your money. There's that, whether the market goes up or down. Churn baby, churn.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
At least the brokers and financial advisors can still collect their "cut" of your money. There's that, whether the market goes up or down. Churn baby, churn.
Unlike precious metals dealers, who work for free?
You seemed to be referring to commissions, fees, and the like ("their cut") that financial asset market makers collect on transactions, and i was referring to similar (if not far larger) percentage that bullion market makers collect in return for providing liquidity of the assets, buying and selling. Neither works for free, and if we don't think their services are "worth" it, we, as thinking beings do not pay them, either one, do we?
@jmski52 said:
At least the brokers and financial advisors can still collect their "cut" of your money. There's that, whether the market goes up or down. Churn baby, churn.
Unlike precious metals dealers, who work for free?
Or anyone who has a business, including hospitals, waiters, PCGS, gas stations, electric companies, charities, consultants, ect.
Pigs get slaughtered, what goes up must come down, buy low sell high. Fairly simple. I certainly have some skin in the ponzi scheme but glad to be diversified. Only surprise here is that the metals are not moving. Oh well, stack on!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Is there one good reason why metals should be moving up at this time? Or continue trading in a 20% up or down range.
Yes, and yes. The challenge is to ask the relevant questions and to decide how to react to the answers.
One good reason why metals should be moving up - a likely stock market top.
One good reason why metals should continue trading in a 20% up or down range - that range covers most of the standard deviation you would expect in most markets, so anything outside that range should be scrutinized hard for the causes.
What's moving the metals right now? I suppose I'd call it "residual investment demand" in the case of gold. In the case of the white metals, I'd call it "industrial demand in addition to a small investment component".
There is no panic into metals, and there won't be until there is wider disenchantment with the financial system in the US & Europe. I don't see a panic, but I expect somewhat of a panic in Europe at some point. I don't think a panic is required for the metals to gain steam, but keep in mind that the IMF already reclassified gold as a Tier 1 Asset backing SDRs some years ago.
The kicker is that governments feel the need to consider gold, but heaven forbid if they allow their populations to consider metals as a proxy for wealth in any meaningful way. It's not exactly a "fake news" campaign, but it's always been a sleight-of-hand proposition when it comes to the definition of money. I think that the only problem that monetizing gold & silver would solve - would be to bring absolute accountability back into the system. That's why government and banks will both fight against it ever happening.
Absolute accountability is not good news for governments and banks.
The governments and banks really don't do us any favors by issuing fiat currencies and using fractional reserve banking to pump the economies. It feels good as long as gov.com can provide handouts in the form of welfare for the poor and corporations, but it's smoke & mirrors from Day One. Ultimately, it's thievery from the productive people who work and pay the taxes and the handouts are being allocated by people who have produced nothing on their own.
Well, that's enough complaining on my part for the rest of the day. Stack on.
Q: Are You Printing Money? Bernanke: Not Literally
Stack on, easy to do because every major country, and many minor ones, issue gold and silver coins in vast numbers for investors and collectors. And countless private minters too.
And there are ads and articles everywhere touting the metals as proxies for wealth. The world apoears awash in new and old PM objects of every description.
It's estimated that in the entire history of, well, history, mankind has mined about 190,000 metric tons of gold. Best guess is that's approaching 80% of what is thought to be recoverable.
And then what? Maybe by then gold will have completely become obsolete. Bitcoins or their successors will be the norm. It's possible.
Or maybe that's "enough". Maybe that will satisfy demand. Maybe new recovery techniques will make unrecoverable gold suddenly become "recoverable".
But I doubt it.
6.4 billion ounces of gold for the whole world, for all time.
By comparison, Microsoft has 7.7 billion shares outstanding. Apple has 5 billion. Exxon has 4 billion. Ford has 4 billion. Johnson & Johnson, too.
And there are over one trillion US dollars in circulation at any given time. That's physical, not including M3 and M6 and whatnot.
So there might be a lot of private and old and new gold coins in the world. But they remain a drop in the bucket compared to just about anything else traded with value.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
_Stack on, easy to do because every major country, and many minor ones, issue gold and silver coins in vast numbers for investors and collectors. And countless private minters too.
And there are ads and articles everywhere touting the metals as proxies for wealth. The world apoears awash in new and old PM objects of every description._
And that's the reason gold and silver are mere barbarous relics! End of discussion, right?
Wrong!
Money is a confidence game. It always has been. I have more confidence in precious metals as proxies for wealth than in paper documents as proxies for wealth.
If you think that the world is awash in new and old PM objects of every description, what do you think about the world being totally inundated in paper and electronic proxies for wealth that are based on debt that can't begin to ever be paid back as promised?
You pick your poison, I'll pick mine. I like my proxies for wealth to be real, to be accessible without going through a third party gatekeeper, and to have no counterparties.
Q: Are You Printing Money? Bernanke: Not Literally
@VanHalen said:
To wit: The bottom 70 percent of U.S. households have a net worth of less than $100,000, and they own less than 9 percent of the total U.S. wealth. US ECONOMY> ECONOMY STATS> KIMBERLY AMADEO>June 22, 2018
Was there ever a time in America when those stats were markedly different?
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
It's not the economies fault if poor people have 50% more kids than wealthier people.
wealth inequality has nothing to do with the number of kids and everything to do with greed.
Not stupid spending of what little discretionary money they do earn..
On consumer crappy goods and entertainment instead of investing it?
The market is overbought and or oversold, therefore the price is massaged in already. The people who are speculating in the market with paper etc. are doing so at great peril. The underlying asset they are investing in isn't worth the price, or commensurate with the price the security is selling for. Then of course it's true 800/26000 is equal to about 3 percent. Perhaps we need to get used to the numbers being thrown around in the markets?
I'd advise all of you to pay attention to me! I am the Son of an Ohio Garage Mechanic
"Enemy can stop you from achieving victory, but cannot stop you from claiming it. Always claim your win." Don Tzu
“Obama will start a war with Iran” Trump 2012
“Clinton will start a war with Iran” Trump 2016
“Biden will start a war with Iran” Trump 2020
“Kamala will start a war with Iran” Trump 2024
Money is a confidence game. It always has been. I have more confidence in precious metals as proxies for wealth than in paper documents as proxies for wealth.
How can you say that? It’s not true and you don’t even really believe that...
Money is a confidence game. It always has been. I have more confidence in precious metals as proxies for wealth than in paper documents as proxies for wealth.
How can you say that? It’s not true and you don’t even really believe that...
Ate there any billionaires, who became billionaires, because they owned gold?
Money is a confidence game. It always has been. I have more confidence in precious metals as proxies for wealth than in paper documents as proxies for wealth.
How can you say that? It’s not true and you don’t even really believe that...
Ate there any billionaires, who became billionaires, because they owned gold?
Probably not many. I have no desire to be a billionaire, I just want to be self sufficient and not just another sheep. Not much sleep lost over paper dollars and stocks here. Stack on!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Comments
Those numbers are also aided by stats like this...
https://www.statista.com/statistics/241530/birth-rate-by-family-income-in-the-us/
Knowledge is the enemy of fear
Wealth inequality has widened by a large margin over the past 25 years and continues unabated.
It's not the economies fault if poor people have 50% more kids than wealthier people.
Knowledge is the enemy of fear
wealth inequality has nothing to do with the number of kids and everything to do with greed.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
It is true that lower income/wealth households are larger than the U.S. average. An example: a two-parent family with four children would be low-income even with an annual income of $50,000. A common situation in the U.S. as you know.
Indeed. It certainly is no fault of the kids. I live not far from Chicago and am saddened by the situation many children there endure.
Then number of lower income folk is growing faster due in large part to the poor having more kids.
The gap will continue to widen even if all income brackets grow at the same rate due to simple mathematics and compounding.
Knowledge is the enemy of fear
Then number of lower income folk is growing faster due in large part to the poor having more kids.
The social engineering and dependencies on gov.com that promote that promote disincentives to work aren't just bad ideas, they are malevolent.
I knew it would happen.
Can't believe how many people live in the moment. Stocks and markets fluctuate, always have and always will. If you think you can make money timing the ups and downs you are a day trader. I don't know one day trader that succeeded in the long term.
Oh, the DOW is up 480 points today....... lol
bob
I admit , I live in the moment. Yesterday is so retro and tomorrow doesn't get here until today's over.
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
With stats like these I can see why some people would promote socialism.
Boy, on days like today...
--Severian the Lame
Yah, taking a beating. Set back a few months the past week.
Liberty: Parent of Science & Industry
You shoulda had insurance.
Knowledge is the enemy of fear
We are real close to a 10% drop since the start of this thread. Hope it stops in 'correction' range here...although this is what, the 3rd one this year. Waste of a year for a lot of the longs.
The XBI has already dropped 20% into bear market territory. You always need a good chunk of cash in your account to trade stocks within indexes with that kind of volatility or you can get crushed quickly.
In the past eight days, $4 trillion has bee wiped off from what had been record high values.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
Yes, Record. High. Values.
Liberty: Parent of Science & Industry
That's about how much was wiped out in gold over the last 7 years, no?
Knowledge is the enemy of fear
which one is on the way up and which one is on the way down. LOL
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
One is where it was 4 months ago while the other is where it was 8 years ago. Seems like a question even you can answer. Lol
Knowledge is the enemy of fear
cycles at work. Boom and bust thanks to your FED.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
Beautiful and so easy even a caveman can do it.
Knowledge is the enemy of fear
At least the brokers and financial advisors can still collect their "cut" of your money. There's that, whether the market goes up or down. Churn baby, churn.
I knew it would happen.
Unlike precious metals dealers, who work for free?
Liberty: Parent of Science & Industry
Unlike precious metals dealers, who work for free?
Let me know if you have a good precious metal dealer who works for free.
I don't keep my PMs captive in some precious metal dealer's office or "on account" somewhere. Do you?
I knew it would happen.
You seemed to be referring to commissions, fees, and the like ("their cut") that financial asset market makers collect on transactions, and i was referring to similar (if not far larger) percentage that bullion market makers collect in return for providing liquidity of the assets, buying and selling. Neither works for free, and if we don't think their services are "worth" it, we, as thinking beings do not pay them, either one, do we?
Liberty: Parent of Science & Industry
Or anyone who has a business, including hospitals, waiters, PCGS, gas stations, electric companies, charities, consultants, ect.
Knowledge is the enemy of fear
Pigs get slaughtered, what goes up must come down, buy low sell high. Fairly simple. I certainly have some skin in the ponzi scheme but glad to be diversified. Only surprise here is that the metals are not moving. Oh well, stack on!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
"Only surprise here is that the metals are not moving."
Why? Is there one good reason why metals should be moving up at this time? Or continue trading in a 20% up or down range.
Beta....enemy or friend?
Long term alpha, short term beta
Liberty: Parent of Science & Industry
Determine omega.
Is there one good reason why metals should be moving up at this time? Or continue trading in a 20% up or down range.
Yes, and yes. The challenge is to ask the relevant questions and to decide how to react to the answers.
One good reason why metals should be moving up - a likely stock market top.
One good reason why metals should continue trading in a 20% up or down range - that range covers most of the standard deviation you would expect in most markets, so anything outside that range should be scrutinized hard for the causes.
What's moving the metals right now? I suppose I'd call it "residual investment demand" in the case of gold. In the case of the white metals, I'd call it "industrial demand in addition to a small investment component".
There is no panic into metals, and there won't be until there is wider disenchantment with the financial system in the US & Europe. I don't see a panic, but I expect somewhat of a panic in Europe at some point. I don't think a panic is required for the metals to gain steam, but keep in mind that the IMF already reclassified gold as a Tier 1 Asset backing SDRs some years ago.
The kicker is that governments feel the need to consider gold, but heaven forbid if they allow their populations to consider metals as a proxy for wealth in any meaningful way. It's not exactly a "fake news" campaign, but it's always been a sleight-of-hand proposition when it comes to the definition of money. I think that the only problem that monetizing gold & silver would solve - would be to bring absolute accountability back into the system. That's why government and banks will both fight against it ever happening.
Absolute accountability is not good news for governments and banks.
The governments and banks really don't do us any favors by issuing fiat currencies and using fractional reserve banking to pump the economies. It feels good as long as gov.com can provide handouts in the form of welfare for the poor and corporations, but it's smoke & mirrors from Day One. Ultimately, it's thievery from the productive people who work and pay the taxes and the handouts are being allocated by people who have produced nothing on their own.
Well, that's enough complaining on my part for the rest of the day. Stack on.
I knew it would happen.
Stack on, easy to do because every major country, and many minor ones, issue gold and silver coins in vast numbers for investors and collectors. And countless private minters too.
And there are ads and articles everywhere touting the metals as proxies for wealth. The world apoears awash in new and old PM objects of every description.
Liberty: Parent of Science & Industry
It's estimated that in the entire history of, well, history, mankind has mined about 190,000 metric tons of gold. Best guess is that's approaching 80% of what is thought to be recoverable.
According to Motley Fool earlier this year, about all of the recoverable gold on the planet will have been mined by 2040:
https://www.fool.com/investing/2018/05/12/how-much-gold-is-left-in-the-world.aspx
And then what? Maybe by then gold will have completely become obsolete. Bitcoins or their successors will be the norm. It's possible.
Or maybe that's "enough". Maybe that will satisfy demand. Maybe new recovery techniques will make unrecoverable gold suddenly become "recoverable".
But I doubt it.
6.4 billion ounces of gold for the whole world, for all time.
By comparison, Microsoft has 7.7 billion shares outstanding. Apple has 5 billion. Exxon has 4 billion. Ford has 4 billion. Johnson & Johnson, too.
And there are over one trillion US dollars in circulation at any given time. That's physical, not including M3 and M6 and whatnot.
So there might be a lot of private and old and new gold coins in the world. But they remain a drop in the bucket compared to just about anything else traded with value.
--Severian the Lame
_Stack on, easy to do because every major country, and many minor ones, issue gold and silver coins in vast numbers for investors and collectors. And countless private minters too.
And there are ads and articles everywhere touting the metals as proxies for wealth. The world apoears awash in new and old PM objects of every description._
And that's the reason gold and silver are mere barbarous relics! End of discussion, right?
Wrong!
Money is a confidence game. It always has been. I have more confidence in precious metals as proxies for wealth than in paper documents as proxies for wealth.
If you think that the world is awash in new and old PM objects of every description, what do you think about the world being totally inundated in paper and electronic proxies for wealth that are based on debt that can't begin to ever be paid back as promised?
You pick your poison, I'll pick mine. I like my proxies for wealth to be real, to be accessible without going through a third party gatekeeper, and to have no counterparties.
I knew it would happen.
10 month fitting bump.
Not stupid spending of what little discretionary money they do earn..
On consumer crappy goods and entertainment instead of investing it?
Liberty: Parent of Science & Industry
The market is overbought and or oversold, therefore the price is massaged in already. The people who are speculating in the market with paper etc. are doing so at great peril. The underlying asset they are investing in isn't worth the price, or commensurate with the price the security is selling for. Then of course it's true 800/26000 is equal to about 3 percent. Perhaps we need to get used to the numbers being thrown around in the markets?
I'd advise all of you to pay attention to me! I am the Son of an Ohio Garage Mechanic
https://www.hussmanfunds.com/comment/mc190805/
FYI. Good luck to all.
"Enemy can stop you from achieving victory, but cannot stop you from claiming it. Always claim your win." Don Tzu
“Obama will start a war with Iran” Trump 2012
“Clinton will start a war with Iran” Trump 2016
“Biden will start a war with Iran” Trump 2020
“Kamala will start a war with Iran” Trump 2024
I think we're likely to hear more than a mention over the next few weeks...
Here's a warning parable for coin collectors...
Thanks ADG, that really made my head hurt and now I am nearly blind from trying to read that essay.
How can you say that? It’s not true and you don’t even really believe that...
Ate there any billionaires, who became billionaires, because they owned gold?
Knowledge is the enemy of fear
Not as many as there are former billionaires who wish they had owned gold.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
Probably not many. I have no desire to be a billionaire, I just want to be self sufficient and not just another sheep. Not much sleep lost over paper dollars and stocks here. Stack on!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?