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re: The DowJones Industrial Average AND the S&P500 Index both closed at record highs today
Posted on 1/21/24 at 7:31 am to slackster
Posted on 1/21/24 at 7:31 am to slackster
quote:
My point is that CPI is made up of a lot of things. The fact that your grocery bill is up 30% over the last 3 years doesn’t mean that everything is up 30%, but that’s really difficult for some to understand around here
That’s correct, but in no measure should the price of TVs be a consideration. TVs are a luxury and a very infrequent purchase for consumers
quote:
And like I continue to say, people just completely ignore their net worth growth and their actual income growth over the same time frame.
This board had increases to net worth and actual income growth over the past 4 years. That is the exception to the rule in the population though - most people are worse off now than they were 4 years ago. Incomes have not risen with core inflation across the board, nor have net worths, only stock related assets and real estate equity - neither of which significantly effects the average person, as equity in your own home doesn’t help things and the average person has little stock portfolio
2
Posted on 1/21/24 at 12:41 pm to Upperdecker
quote:
That is the exception to the rule in the population though - most people are worse off now than they were 4 years ago.
Do you have any facts to back that up? Or just feelings? Median REAL net worth is up quite a bit over the past few years, so probably the vast majority of americans are at lease somewhat better off, with roughly half of all americans being much better off.
I don't know a single person who is out of a job or is underemployed to any significant degree. Wages, much to the chagrin of a lot of posters here, skyrocketed in 2020, 2021 and into 2022. If you aren't making a significant amount more in 2024 than you were at the beginning of 2020, then that is a personal problem stemming from a lack of skills, effort or initiative.
Posted on 1/21/24 at 12:46 pm to Upperdecker
quote:This is simply false. MEDIAN REAL net worths are up a lot over the past 4 years.
This board had increases to net worth and actual income growth over the past 4 years. That is the exception to the rule in the population though - most people are worse off now than they were 4 years ago. Incomes have not risen with core inflation across the board, nor have net worths, only stock related assets and real estate equity - neither of which significantly effects the average person, as equity in your own home doesn’t help things and the average person has little stock portfolio
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