Monday, November 10, 2008
Idiots
CNBC says that GM stock is roughly tied with its historical low. The current price is about $4.00, and the historical low is $3.13 just after WW2.
Nope, it's a hell of a lot worse than that. Inflation since 1946 is approximately 8, so the 1946 price would be equivalent to $24 in today's dollars. Thus today's price is not tied with the previous low; it's 1/6 of the previous low.
Or putting it the other way around: Today's price would be 35 cents per share in 1940's dollars.
Nobody learns anything. Using fraudulent measures like the cruel scam of "Core Inflation" is exactly how these dickheads got themselves, and the rest of us innocent bystanders, into this new Depression. If they still haven't figured out super-basic economic facts like adjusting for inflation, we must assume that everything they say is absolutely false and criminal.
= = = = =
And one more rant: I'm damn tired of hearing the dickheads say "We're all to blame for this, because all of us have lived beyond our means." No sir. No sir. Hell no and fuck no. Include me out. I may be a damned poor excuse for a human being, and I've been 'part of the problem' in many situations, but I am emphatically NOT 'part of the problem' in this situation. My house is completely paid up, I haven't used credit in at least 5 years, and I live within a net income of $10k per year. No sir, I'm not to blame for this one, and you are gravely insulting me when you tell me I am. ¶ 7:08 AM
Nope, it's a hell of a lot worse than that. Inflation since 1946 is approximately 8, so the 1946 price would be equivalent to $24 in today's dollars. Thus today's price is not tied with the previous low; it's 1/6 of the previous low.
Or putting it the other way around: Today's price would be 35 cents per share in 1940's dollars.
Nobody learns anything. Using fraudulent measures like the cruel scam of "Core Inflation" is exactly how these dickheads got themselves, and the rest of us innocent bystanders, into this new Depression. If they still haven't figured out super-basic economic facts like adjusting for inflation, we must assume that everything they say is absolutely false and criminal.
= = = = =
And one more rant: I'm damn tired of hearing the dickheads say "We're all to blame for this, because all of us have lived beyond our means." No sir. No sir. Hell no and fuck no. Include me out. I may be a damned poor excuse for a human being, and I've been 'part of the problem' in many situations, but I am emphatically NOT 'part of the problem' in this situation. My house is completely paid up, I haven't used credit in at least 5 years, and I live within a net income of $10k per year. No sir, I'm not to blame for this one, and you are gravely insulting me when you tell me I am. ¶ 7:08 AM
