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Stock Returns Washed Away

November 20, 2008 RSS Feed Print

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Brad DeLong does the terrible math:

"Average real capital gain over the twelve years since Greenspan's "irrational exuberance" speech in December 1996: -2.1% per year.

Average dividend paid on the S&P composite over the twelve years since Greenspan's "irrational exuberance" speech in December 1996: 1.6% per year.

Real return on the S&P composite over the twelve years since Greenspan's "irrational exuberance" speech in December 1996: -0.5% per year."

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I did it all according to the best advice. I saved 10% of earnings each year. I bought and held my holdings like we were told to, I gave up many luxuries and trips in the last 35 years so that I could save for a solid retirement. I never bought more than I could afford. I achieved my retirement dollar goal, and I have never spent ANY of the principle.
Now I have to look for a job when thousands are being laid off every day. So much for listening to the "experts", and good luck to me in finding a job now at age 65.
A guy who steals a bag of chips from a convience store gets 10-20 in prison. It looks like the guys who ruined the hopes and lives of a whole generation are still getting their big bonuses. Where is the justice in that logic?

Sebagoguy of FL 2:11PM November 21, 2008

Bye bye Miss American Pie. Drove my Chevy to the levey till the Chevy went bye. We didn't discern about the what or the why, but surely, this will be the day that we die, this will be the time that we die-ie-ie----------

of 7:39PM November 20, 2008

THIS RECESSION HAS CHANGED LIFE. I COULD HAVE NEVER THOUGHT THAT MY FINANCIAL SITUATION COULD CHANGE THIS MUCH IN A FEW MONTHS

of 5:37PM November 20, 2008

Stock Returns Washed Away

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