[ale] those of you reading this while within US jurisdictionshould have a care....

[tfreeman at intel.digichem.net]

On Wed, 16 Oct 2002, Jim Popovitch wrote:

> > -----Original Message-----
> > From: Greg [mailto:runman at telocity.com]
> > Sent: Wednesday, October 16, 2002 5:48 PM
> >
> > I read in August (I think it was in FORTUNE) how the Sec. of
> > the Treasury thinks the economy is doing "alright" due to "the
> > auto companies not laying off during a slump in sales".
> 
> Ask yourself this question:  Are you better off today than you were 4 years
> ago?  Well, maybe not... how about 40 years ago?  ;)

Lets see, that would make me 10?? I understand that you could almost make 
ends meet on minimum wage, social security taxes were something like 5%, 
not 15%(or something like that), basic transportation(car) was perhaps 
$2K (be fair - not as safe or comfortable as now) new, no computers, and 
seasonal fresh food.

Personally, we had just graduated to being a 2 car family, and a family of 
6 could eat for something like $40/week. What my father made at the time, 
and how it compares, I don't know.

I don't have the appropriate data, and am desparately trying not to use 
rose colored glasses on the past, but I suspect somebody is too impressed 
with the stock market and other indicators which seem to resemble betting 
on the horses than what people are going through in their lives. 40 years 
ago the US had no real competition in the world, top management was making 
a significantly smaller multiple of the line employee's income, we were 
mostly younger and needed less medical care paid for by corporate or 
government subsidies. 

In short, I don't think many people are any bettor off today than 40 years 
ago, or 20 years ago, or even 10. Not tremendously worse off in many 
cases, but no better...

> 
> I am not an economist or financial advisor, but I can easily see that the
> economy cycles.  Do you really expect the economy to always be strong?  Now
> is the best of times for those who have the means to buy into good
> well-thought investment deals.  If you don't have the capital on hand to buy
> in, consider putting some away over the next 10-15 years so that on the next
> downturn you will be prepared to take advantage.  ;)
> 
> -Jim P.
> 
> 
> 
> 
> 
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