Posted on 06/19/2012 11:05:08 AM PDT by TurboZamboni
Young US households those aged 35-to-44 lost a stunning 59 percent of their wealth during the recession, a government report released yesterday revealed. Thats the stiffest hit of any age group, said the report from the US Census Bureau. The age group typically struggling with mortgages, tuition bills and rising tax bills makes up the backbone of Americas middle class. The losses were mainly due to the drop in the value of their homes during the 2005 through 2010 period, the report said
(Excerpt) Read more at nypost.com ...
Yup! He’ll fix what that mean ol’ Bush did!
Workforce participation is already back to 1982. Welcome back Carter indeed.
Divorce and the Great Recession
http://www.pewsocialtrends.org/2012/05/02/divorce-and-the-great-recession/
The recession seems to work both for and against divorce. No clear-cut answer, it seems.
OK, thanks. I’ll read the article later.
Divorce costs waaaay more than staying married. At least if assets and kids are involved.
The coming return of the ‘marriage penalty’ tax could play a role as well.
LOL, great sign.
I loathe the socialists and pray America wakes the hell up and kicks them to the curb.
Pay attention Romney, the annals of history are already calling. All you have to do is kick the government in the balls and get it out of our (The American taxpayer's) way and the history books will regard you highly.
No ammnesty
Slash taxes (more!)
Cut spending
Cut entire federal agenicies
Cut all the red tape and regulations.
This country will explode with productivity.
The greater disharmony and friction that can be caused by financial distress is being counterbalanced by the loss of any monetary incentive for women to divorce.
The house isn’t the cash cow it once was. Hubby’s pay is likely either stagnant, greatly reduced or limited to unemployment now.
I wouldnt be surprised that the divorce rate will jump (more than recent trend), because of the hard times and general dissatisfication.
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I think more people are staying together. People settle when money is tight. Only a wealthy country can manage high divorce rates.
it assumes that wealthy Obama voters are productive. :(
They are also sowing seeds all over the media for Qe3.
BUT, they are doing it with easing CREDIT.
Another banking ploy, vs. outright ownership.
Rich democrats who actually earned their wealth would be as rare as hens’ teeth.
Obama’s constituents aren’t married.
Sounds like me-treading water.
I have low expecatations from Mittens, so if he accomplished one thing he’s running on, I’d be pleasantly surprised.
If Mr. Greenjeans Pawlenty is his VP, expect even higher energy rates. (he loves ethanol and wind)
Not this one. I’ve seen more of my friends 20 and 30 somethings moving. They’re giving it all they’ve got, it just isn’t enough. And those entry level jobs into big corporations (like the break I got in my twenties) are not there like they were. I honestly don’t know how families are managing.
140 days left.
Often times the administration puts out a news release like this to blunt opposition and criticism of Obama's next round of printing inflationary Monopoly money Quantitative Easing.
No one told them to buy McMansions with high payments and interest. None of them understood they’d have to pay back all that “free” tuition money. Most of their troubles fall squarely on their own shoulders.
This is not a surprise.
Crushing the middle class has always been the goal of statists like owebama. They only want two classes - uber rich (kings and queens) and ultra poor (subjects). That is the way they stay in power.
In the old days it was called feudalism.
I’m in the latter group. For the most port recent grads can find work, just not the entry level jobs they have degrees for. It is mostly PT or FT work in retail, etc.
It is recoverable, but 2-4 years will be lost in most cases.
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