Mark McHugh

What A Long Strange Trip It’s Been…

In Open Thread on Sunday, August 14, 2011 at 8:51 pm

After some of very dramatic moves stocks ended last week pretty much where they started….which is pretty much where they were 13 years ago in 1998. 

 If you ignore inflation that’s a zero percent return (the BLS claims inflation was 38.5% 1998-2011).   To actually break even vs. inflation since 1998 the S & P 500 would have to be about 1630.

The average price of gold in August 1998 was $285.  Even adjusting for inflation, gold is up by more than 450%.  Silver was $5.18 in August 1998.

Any Questions?

The US National Debt was 5.5 Trillion in August 1998.  It has since increased by 9 Trillion (160%) since then.  That increase equals $29,000 per citizen.   The unemployment rate was 4.4% in 1998, its stated rate is 9.1% today (of course, anyone paying the slightest bit of attention knows it is much higher).

Was it worth it?

Funny story:  In 1999, the Congressional Budget Office (CBO) was projecting that the NATIONAL DEBT WOULD BE GONE BY 2012!!!!!

Along the way, somebody decided that NOT taxing the rich would be disatrous for the economy, so I guess this is their idea of “success.”   Maybe failure is the new success.

I see nothing that will change the patterns presented here.

Do you?

  1. I still don’t understand why people think the top 1% have MORE rights NOT to be taxed proportionally. And the middle-class that are being kicked in the head by the top 1% agree. Do they NOT realize that it’s the same folks that have, through lobbyists and fair weather friends in Congress, have manipulated the tax code and laws to their advantage?

    Have we lost our self interests?

    This pattern will continue, you can be assured of that.

  2. You got it, Todd.

    I find myself getting less and less sympathetic to what is left of the middle class. If we’re going to continue swallowing the garbage pumped out by mainstream media, maybe we deserve to be slaves.

    Some days it seems like a lost cause….

  3. Why can’t we all just be sex addicts? Seriously.

    Puffed-up houses were convincing and at first glance, out of context, cheap, Chinese, slave-labor crap filled the gaps formed when you jump up a class so abruptly.

    I understand, it can be fun to play make-believe.

  4. Or Aliens… would that change anything?

  5. Unfortunately the debt being gone, high employment, and a secure middle class are not part of the agenda.

  6. Happy Labor Day Mark, for what it is worth…

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