Quote:
Originally Posted by Vjo
Something is wrong in a country when prices are the same as they were in the late 80's for most manufactured goods such as electronics, clothes , anything imported, which is everything.
Someone just posted how they come to the US to buy all their electronics, clothes, ect. We are a pig consumer nation (sorry we are) who's currency is turning to crap. Luckily the WW2 gen made good money as a whole.
As a whole we stopped making money in about 1970-1980. An education was worth a lot in the 60s. In the 80s forward it was worth crap as a whole. Mainly due to the loss of manufacturing.
The "consumption period" of the last 65 years is coming to a screaching halt as people cant even afford things at prices 20 years ago.
China would have imposed trade tariffs long ago but we go right along buying everything imported.
It's way out of hand now.
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Prices are not the same as the 80's...I'm not sure where you are getting that from. Things like electronics, clothes are much cheaper now, other things like food, gas, etc is more expensive.
what we need to do is stop being a debt producing country and start producing goods again. before the 80's credit card debt was rare, and refi's weren't something you would do for extra spending money and still, the economy was pretty good. if you take a look at the huge dow increase, it almost conicides with the consumer debt trend.
things can still be good, people just have to stop being so stupid with their money and companies should not use stock as a value metric for their company, as stocks can't go up forever, its just impossible.