J,
<<I think what underlies everything is the premise--entirely true--that if one had put x dollars in the stock market in 1900, it'd be worth zillions more by now, despite the depression and several recessions.>>
cpcug.org
Not realy, or, it depends: most market in 1900 was railroad stocks, and even though airlines and FedEx were included 20- 30 years ago, a person invested in most stocks in 1900 would (i) either lose a ton of money, or (ii) barely break even by now, if some trading was done, but then taxes and trading expences have to be taken into account.
In other words, treasury's printing press produced a whole lot of inflation, and with IRS they just keep all profits generated in this country to themselves.
J |
