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Tilted Cat Head
Administrator
Location: Manhattan, NY
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Quote:
Originally Posted by FuglyStick
The country needs to redefine it's ideas of what "capital" is. What got us into the mess in the first place is investing in "numbers," rather than in "product." The shell game of swapping numbers from one column to another in the pursuit of wealth, rather than investing in actual goods, was doomed to fail because there was never any actual product coming from all the money being flung around. Unless investors start putting their money towards actual production, any recovery by the stock market will be doomed to fail again.
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I don't think it is a simple as "capital." It boils down to simpler terms like "invest" and "asset". The other situation is that the country moved away from an asset building country to an information and service based country. Something that other countries with fewer people and money can also do. Industry takes resources. Service and information? practically nothing....
Quote:
Originally Posted by flstf
I don't know about the stock market but the housing market may be getting close to a bottom. I read somewhere that average prices are now about 2.9 times average annual income. Two houses close to my land have sold in the last couple of weeks. One was on the market for 3+ years at $565K and sold for $300K, the other on the market for 2 years just closed yesterday so I don't know the price yet.
Even though many have lost considerable net worth recently, there are millions still putting money into their 401Ks and eventually a large percentage will wind up in the stock market.
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I don't think you can do anything with your 401k but put it into the stock market in some fashion.
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