In 1965 min wage was $1.25 per hr & an oz of gold was $35.50. If you were pd in gold for 40-hrs, you would have recieved 1.4oz.
FF to today, if you were pd 1.4oz of gold as min wage for 40-hrs of work, that would be $2,590 (at current price of $1850 an oz) or $64.75 per hour.
@Publiusagain@WaitWaitWaitWHY@zerohedge I just look at futures because I'm not selling any of my stack, so no trading except sometimes in the silver miners etf.
1999- So now we are going to party like it's 1999? 1999 was rose 19.59% resulting in a blow off top in Jan 2020 leading to 3-years of -20% bloodbaths each yr erasing all gains back to 1997. If history repeats itself, I will see you and the SPY back at $390 at the end of 2028.
A quick summary of SPY - Friday put in a topping candle. Monday due to ignorant participants, half didn't know it, result doji which is indecision candle. Today - They know it. See ya
I am finally finishing up watching Jay Powell's Q&A session from yesterday (I fell asleep to it last night). What a fucking piece of shit he is! He's contradicted himself countless times now and I still have 20-minutes left of this shit-show to watch.
The 10yr closed yesterday with a yield of 4.06%. A level not seen since.........last week when it was 4.01%. Yes, inflation is coming back with a vengeance. But the S&P won't save you like Gold and Bitcoin will.