Posted on 12/02/2012 10:28:58 AM PST by george76
The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969.
According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole.
According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent. The less than $10,000″ figure includes the numerous households that have no assets at all, or negative assets, which is otherwise known as debt.
(Excerpt) Read more at washington.cbslocal.com ...
4 years of HusseinO undermining the American economy. And we have another 4 years to “look forward to”)
My wife and I are in the negative, and always have been, perhaps with exception for when we were MUCH younger and had no debt at all.
Chances are, if you have two newer cars sitting in the garage at your home and a mortgage, you have a negative net worth.
This is what happens when a clown from Kenya spreads OUR wealth around. Elections do have consequences. The “lady parts” voters aren’t as smart as they think they are.
Looking at those charts, it looks like the US economy cratered around 1981, and hasn’t really recovered since, more like a series of death throes. I remember 1981, pretty lean times. I think it coincides with the death of heavy industry in the US, based on what I saw at the time, and what has gone on since then.
I was just told on another thread, someone easily and happily lives off 11k per year....lol
Sounds like 3 visits to a dentist to me.
Welcome to the new America. For gifts this Christmas, exchange cannd food. I like Chef Boyardee Ravioli. In fact at the local food bag store, they have T-bone for 19 cents a pound. With meat, $11.95
It all makes sense to me. By destroying the wealth of individuals, we will all be equal. At some point we all become wards of the all powerful government. No winners, no losers, all just workers for the greater glory of the state.
Incidentally, the ladies will still have their assets.
Actually, everything is stupendous! GDP is up, home sales are ‘trending’ up. Unemployment is ‘trending’ down. Stock market made some fantastic advances (albeit small in the light of declines recently), and the public ‘mood’ is extremely “Hopey/Changey Hopeful”.....
It must be true. I’ve been seeing this on CNN for a few weeks now. Rosy, rosy, rosy —— upbeat, upbeat, upbeat....
They’re even ridiculing the GOP about how ‘out of touch’ they are and how ‘they’ need to kiss hispanics, blacks, asians, homos’ collective asses and beg for forgiveness.
Everything is just ducky.
Watching the cute supermodels wink and nod with their bloated silicone lips as they discuss all kinds of absolutely meaningless news became a bit much. Local news became a comedy as they lead the news with some guy found humping his horse in Tennessee, or homos demanding more homo history to be taught, or about the latest wants and desires of the local school teacher union mobsters.
Gak..
That wasn't enough, so the greedy AH's who told ya cable TV would be commercial free 40 years ago, are all laughing it up. They're sipping banana bazookas, soaking in their spas while cruising in in paradise on their 200' yachts. Now ya watch 2 minutes of some reality cow flop, as they switch to 5 minutes of commercials, which they got ya to pay for. After they've already been paid for....lol
Our American 'worker' has never been more productive, its just we aren't the only player in town.
It will only get worse
The D's and R's have used the national credit card to run their little programs, now the call for more 'workers' ie illegal alien amnesty and other trends are on the table.
Ha ha...totally agree!
In a just future world, these ‘fourth estaters’ will be the first ones stood up against a wall and offered a cigarette (or a Mocha-lotto-grande-half caf decaf with whip-and-cinnamon sprinks) and some ‘last words’.
All part of the liberal plan to destroy the middle-class, while saying they want to protect it. The Dems and their cohorts in the media want to turn the US into a 3d world hell-hole for everyone but the ruling class, which of course, would be them.
I’m not worried at all because that brilliant economist Hussein is going to fix everything.
Chances are, if you have two newer cars sitting in the garage at your home and a mortgage, you have a negative net worth.
That’s why my cars’ next stop is always the salvage yard.
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My car is so bad I'm having a "brick on" party early next year just after I buy my "new" 10 year old car ..
But, hey, let’s vote for Obama because... well... it’s all Bush’s fault, right?
Exactly.
All those things which used to be on America’s shopping aisles, made in America.
Are all now imported from China.
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