Dow 30,000
- Thread starter RonBurgundy
- Start date
With local bars/restaurants I don't believe that would be true because there are far too many variables.
With national chains like Applebees/Starbucks/McDonalds that is def the case.
I know and I distinctly remember seeing the TV when it crossed the 10,000 mark the very first time. I was eating at Clancey's at 114th and Dodge
God saves a kitten every time an Applebees is closed.
People have been saying stocks are overvalued for at least 6 years. I think the big thing that is keeping everything propped up is that there is money and the only place to get a decent return is in stocks. But I probably don't know what I'm talking about.
We seem to be stuck in an endless cycle of low interest rates, which basically forces money into stocks. I don't know how you break that cycle with the amount of leverage you have on the books for corporations and governments. Going to be a great ride for stocks for as long as it lasts, but seems like an ugly ending when it finally stops.
No, I think you are right on. As someone else pointed out, if our economy continues at a growth rate of only 2%, and inflation remains at 2%, then the Fed will keep interest rates <2.5%. This creates a situation that all the banks, hedge funds, & wealthy can borrow cheap money and the only decent returns are in equity markets. Keeps the markets inflating. Doesn't do much for the middle/working class with the exception of 401k accounts.
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A few years ago even a hint at raising the rates caused the market to drop like a rock.
Remember when the car companies started to handle their own financing with lower interest rates? It started out at about 5.9% and then another company would offer 4.9% etc. Whenever they tried to stop people stopped buying.
After 9/11 they all started doing 0% interest loans for a while
Just for perspective, the Dow closed at 18,333 on November 8, 2016. So, it is up almost 50% in 32 months. It has to rise 11% from where it is now to get to 30,000.
Well 401k's are kind of a big deal for people who work in Corporate. So this is a very nice thing for most of us. I have almost doubled my 401K in the last two years.
The Dow first hit 1,000 in Nov 1972. It doubled to 2,000 in Jan 1987 (14 years). It doubled to 4,000 in February 1995 (8 years). It doubled again to 8,000 in Jul 1997 (2 years). It doubled again to 16,000 in Nov 2013 (16 years) but is flirting with doubling again well within 10 years.
Thank god I have a pension. I can't imagine having to rely on the stock market being good to even be able to retire.
I have a pension to pay (most of) the bills. I'm hopeful that my investments will end up mostly just being fun money.
I am not knocking 401k at all and have one myself. But there is growing inequality between how well the wealthy can take advantage of an increasing equity market and how much the typical worker can.
Very hard to believe your pension manager isn't invested in equities. If not, they should be fired. Investing in simple money market, treasuries, or bonds will get your returns crushed over the last decade.
You either work for Govt in some capacity or the 12% of companies that still over a pension...lucky man..
I’d give anything to drop my salary in half to ensure I was set for retirement..i,e, teachers.
Wts..I’ve had a good chunk of my 401k in a target retirement fund past 6 years bc I got spooked when market crashed and divorce didn’t help... I’ve thought about moving more funds to a more moderate fund but as soon as I do the market will have some 30% correction...guarantee it. I’ve only made on avg 5-6% a year (this year 11% ytd)...but if the market crashes I ain’t losing 30-40% either... more like 10-15% at most.
Idk I’m 51 and if I can maintain my current gig I can retire at 60...so I’ll prob just continue what I’ve been doing.
Idk I’m 51 and if I can maintain my current gig I can retire at 60...so I’ll prob just continue what I’ve been doing.
