U.S. Fed Cuts Discount Rate

reply to post by chromatico

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I don't personally know anyone that makes $60K per year, although I was making that in Germany in the late 80's and close to $80K in Australia in the 90's. In my part of the country there are almost no large corporations, so small businesses and service industries are the only forms of employment. Federal minimum wage is $5.15 an hour which is $10K a year and exactly the income of the average worker in 1913 according to your graph. It's also the official poverty line.

It's actually pretty funny because I've been out of work for 8 months and only wish I could find a job so I can work 40 hours and bring home that 1913 paycheck.

edit: WHOA.. I see now your graph starts in 1890, not 1913. So that would be an 1890 paycheck. Or perhaps a 1913 paperboy's wages.

[edit on 3/17/2008 by mythatsabigprobe]

The last thing I'd recommend holding into are worthless stocks in a soon to fail American business, or worthless US funny money dollars. Invest in land, land that you can grow food upon. And plenty of weapons and ammunition. And cigarettes, alcohol, and illegal drugs. With these things you can acquire everything else you may need later.

It doesn't matter what the federal reserve does now. The real problem here are these trade imbalances. The world is loosing faith in the piles of American dollars that litter this planet. America has very little to offer and trade with China and the OPEC nations for all those exported China Mart and oil dollars. Everything we make can be found elsewhere cheaper using other currencies. The American worker is overpriced and that's the real problem and cause of the trade imbalance and falling dollar.

In other words, the "Macy" of nations (the US) is no longer a place others around the world care to or fail to shop at, so US dollars are becoming worthless.

reply to post by Divinorumus

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The only way that a stock will turn out bad for the holder is if they sell it, or if the company goes bankrupt. Certain companies will not go bankrupt, out of necessity. For example, I don't see Exxon Mobile ever going bankrupt, nor do I see retailers such as Wal-Mart going bankrupt either.

The point here is not to buy more stocks, but to hold onto the ones that you currently have until after the collapse, THEN go and buy up all of the very cheap stocks that you want to buy. They'll be selling for pennies on the dollar.

It's as close to a sure thing as one can get.

TheBorg