A Complete Waste of Space

callmeslick wrote:when, exactly, did we see that HUGE drop in personal wealth last year that you predicted? I missed it.

well I sure the hell didnt.....lets see my house dropped 100k in value last year, my income fell 22k last year(made 72K in 2008, 50K in 2009) yet my credit card interest jumped significantly, thanks to congress. my utilities ALL went up significantly. More taxes. food expenses rose. Gas seems to have stayed about the same, so I had that HUGE drop in my personal wealth. I lost 122K last year not counting all my expenses that went up.

damn shame, cuda, because for those investing(and that's what dawg was referring to) it was probably
the best year in the last 40. My ROI for 2009 was around 100% for the year. And, I'm a real conservative investor. Now, mind you 2008 sort of sucked, but dawg wasn't addressing that. For the background, he
stated that after stocks rose(reference-Dow went to 8600), it was a false rise, preceding a coming drop by last May. Instead, the market kept rising(Dow to 10,500) since his words.
What you state is no doubt true, and sucks, for a whole bunch of people. I am sort of astounded that your house dropped by 100K last year, as opposed to the year before, when most real estate valuation tanked.
Your market must have lagged, big-time. I won't get into the fact that exposure to credit card debt at any time in the past 3 years was extremely dangerous and most adults should have been aware of that. Yes, utilities went up, here, as did certain types of food items(others dropped), but once again, like the unemployment thing, most of those can be traced straight to the economy this nation has developed over the past 30 years, which favors those who make money investing, and punishes those folks who work for a living. And that, precisely, is what I've been railing against on these pages since 2004. It's a setup.

wow! Just looked up the Portland economic trends, and you guys were still tanking until December 09.
Most of us in the east saw prices stabilize and then rise a bit by years end. Here in rural PA, it never really bubbled, so the drop and subsequent rise were almost negligible. I could probably sell my home for pretty much what I would have gotten 2 years back.