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thanks for the clarification regarding how your guests come to the show. Hey, if Jerry and I agreed with any of your real estate guests, it would not be fun at all. BTW, I drove past a duplex today listed for 168k with $21,600 annual income…I am actually going to investigate this one.
bobby….we need to keep Al on his toes….
Oh my gosh I am I wearing ballet shoes?
Okay here’s the deal,
Anyone who’s gonna be in chicago at the time is the conference, I would really like to get together with you. I mean all of you. First 1 is on me. You pick the spot.
Come on let’s all have some fun and great conversation.
Chicago is not my kinda town! Let me know when you are coming to sunny Florida and I will take you up on the offer.
You know, Bobby, it’s interesting, but I have always enjoyed Chicago. Can’t really define just why, but we have always had a good time there.
ya AL….there are no NEW YORKERS IN CHICAGO……(HA HA)
In the Box,
Does seem to me anyway to be a bit of a different mentality in Chicago than in New York.
WHEN IS THE CONFERENCE..?
It is on Sept. 21 and 222 at the McCormick Place.
Couple of drinks on me, In the Box.
Can I purchase your condo for 7 times annual gross rental income? If so, I just might make an offer. I could use a write off on NW travel (in the summer/fall only of course)
I haven’t fallen off the turnip truck for at least 40 years!
On living standards, I would like to contribute what I can…while I can’t give a source, I have heard that the peak living standard in the US was in ’73. Whether this was the year of average maximal take-home income as a high point as a percentage of income I’m not sure, but that’s my best guess.
The 90’s were great for many, but it was a false economy based on the beginning of a credit bubble, where at the peak the best teck companies were trading at 100x profit (If there was any profit)…and people who started websites where they sell cat food were valued at millions!
It’s my view that we won’t have great times again for the population at large until this market collapses, and at some point we return to an asset backed currency of perhaps 5% gold or more. The US has roughly 8100 tons (not sure if that is imperial -2000 lbs or metric -1000kg = 2200 lbs) let’s assume the later…that would equate to 251 910 000 oz. gold. If you take the current gold price of roughly 1600/oz that would equate to $403 billion; factor in the size of the US economy of roughly 16 trillion? and full 100% backing would equate gold to a value of $ 63 500+/oz …at 5%, $3 175 oz.
Just some food for thought in our currency crisis.
The US government was able to create this 90’s bubble by lying about the inflation rate, thereby paying seniors less…in excluding food and energy from the cpi…so what was perhaps 5% inflation in real terms, was posted as 2-3%
I agree with your account of the early 70’s. It was during this time 68-72 that I attended a private college. I was able to afford room, board, and tuition and beer for 4 years, by working part time and in the summer months. No major loans needed.
Bobby…..ditto….looks like we are the same age…..how does it feel to be 39…..(jack benny….
Hi Bobby and Proud C,
All I can do is agree with both of you,
Hi Bobby and Proud C,
I, along with Big Al agree with you gentlemen 100%. Great analysis of the historical economics of the past. Like Al, I am learing so much from all of you.
Thank you to all!!!
Thanks Al. I look forward to your discussion on job outsourcing. It is an important subject that is largely ignored by the msm and politicians alike. Nobody is speaking for the middle class on this subject.