The Dow Jones has more than doubled in the same time period: up from 14,500 to 33,000.
The leadership of this too-big-to-manage bank is a clear and undebatable failure.
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@1zny time to start quoting www.shadowstats.com
How CPI is calculated has been changed in major ways at least a half dozen times since it was created and there were countless 'tweaks' between those big revisions as well. Most of these changes have been made to hide real inflation because the plebes might react poorly to DC and the FRB annihilating the value of their money as the print and print and print some more to buy votes. This way, when your costs are going through the roof you can be assuaged by being told that inflation is akshuuually really low, just look at this chart! Food, energy, healthcare and housing is what one needs to live. They aren't going up by the %s that the CPI tells us they are. The stat is rigged from the get go and it's classic garbage in / garbage out.
Sometimes perspective can be helpful in times like these. Post-WWII an era of new money began. That era has been well over (marred by 1999 Glass-Steagall act modifications and then the 2008 crash's swan song) and we are in some sort of weird financial vortex of uncertainty.
What will be the new economic themes (good or bad) once this all ends today? It has to be something involving digital currency, removing friction in transactions and of course A.I.
What role will WF play in this next era? Is WF setting itself up to play or purposely hitting one land mine after another until they get broken up into enough easily digestible pieces to grow other evil banks?
For what it's worth, how we decide on WF is how we decide on all banks relationship with our economic future. There will be even more stomach turning moments before a new generation of workers forgets the struggle and takes us into a new future.
Actually not bringing the bank into compliance might be a blessing in disguise. C-Suite isn't able to acquire other institutions and bring their employees into this misery.
Because your (probably over-exaggerated) guesstimate of your anecdotal personal impact is more valid to describe a nation-wide phenomenon than a mathematical index that covers the entire nation and who’s methodology and inputs are openly published every month? Our entire sense the history of inflation in this country is tied to this same metric. All discussion of inflation in the United States ultimately begins and ends with this number. You can’t have it both ways. Personally, my monthly expenditures in the past 3 have barely increased at all compared to the growth of my income. If CPI is just made up then maybe we should assume everything is going great because of my financial situation?
S&P has what, tripled over that time? Close enough.
Breaking news: the feds inflation numbers are full of S. My grocery bill has gone up 300-400% in 5 years, let alone 10. But let's just pretend food, fuel, housing, and everything else you actually need to live doesn't count because "reasons". 😐
Post ID: @fxy+1lZSNCcU
OP here. You are correct in that. So if I use an “adjusted price”:
Wells Fargo stock is trading exactly where it was 9 years ago.
Still a failure in anyone’s eyes.
Forgot to paste the link for comment below
https://www.stocksplithistory.com/wells-fargo-and/
Not sure where you’re getting that from since CPI has only gone up a net 29-30% from 10 years ago, not 300-400%. The original comparison to the market as a whole was more valid anyway.
According to the source below wells has actually issued new shares in the past 10 years so a 1:1 comparison of stock price isn’t really valid. If you’d invested 10k in Wells 10 years ago and kept it without reinvesting the dividends, this says it would be worth 13.23k now. So that’s somewhat slightly better than inflation in that time, but compared to market averages as a whole still pretty crummy.
So will we
China Is Quietly Trying to Dethrone the Dollar
https://foreignpolicy.com/2022/09/21/china-yuan-us-dollar-sco-currency/
Probably will go lower
Employee morale is low
Low employee morale = worse customer experience
Etc etc etc etc
If it kept up with inflation it should be 3-4x what it was a decade ago. Says a lot about the id--ts in charge.
Not to mention our C-Suite’s failure to bring the bank in to compliance for over 5 years now.
In the five years since the cap has been in place, the bank has wasted $69 Billion on Company Stock Buybacks when that money should have been used to fix the many still outstanding compliance, risk, and management control problems.
The leadership of this too-big-to-manage bank is a clear and undebatable failure.