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For most families, wealth has vanished
Yahoo Finance ^

Posted on 06/30/2014 2:57:47 PM PDT by Red in Blue PA

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To: hal ogen

This has to be people in retirement age with their mortgage paid off? I don’t know anyone in the median income range paying a mortgage that has a net wealth of 56k.


21 posted on 06/30/2014 3:39:08 PM PDT by CommieCutter ("For an idea to be too simplistic, it must first be proven wrong" --Thomas Sowell)
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To: hal ogen; grania

I was being sarcastic by saying that having $50K in “wealth” is too much... but, I bet there are plenty of folks on the left who probably think that’s the case.


22 posted on 06/30/2014 3:44:18 PM PDT by Cementjungle
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To: Red in Blue PA

You are probably correct. But I’d still take 50 of him in as hard working folks will help in the end. He will rise upward.

I saw a similar story with a vietnamese immigrant/refugee before this guy. In his case I know his family was on the dole the first few years. I know they shadow banked to keep it off the books initially. But after those first few years, he was paying back into the system instead of taking.


23 posted on 06/30/2014 3:46:24 PM PDT by wonkowasright (Wonko from outside the asylum)
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To: Red in Blue PA

A liberal tide lowers all boats.


24 posted on 06/30/2014 3:51:09 PM PDT by eyedigress ((zOld storm chaser from the west)/?s)
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To: Red in Blue PA

Food and gas prices double and triple, hours and wages go.down. What did they think would happen?


25 posted on 06/30/2014 4:03:20 PM PDT by autumnraine
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To: Red in Blue PA

DOnt worry, we wont run out of money anytime soon, the Fed is giving Wall St $50-$60 BILLION DOLLARS A MONTH, surely it will “Trickle Down” like they promised./s

remember if we calculated Inflation the way we did in 1980 it is 10%

320 million people
100 million too young or retired and out of the workforce age
and only 97 million TAXPAYERS including spouses.
How do you end up with 6% unemployment??


26 posted on 06/30/2014 4:08:00 PM PDT by eyeamok
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To: Red in Blue PA

Driving my ‘95 Camry with 240,000 miles on it, I sure do see a whole bunch of new cars and trucks all around. Thinking part of this low level of net worth has to do with consumer debt. Some poverty is self-inflicted.


27 posted on 06/30/2014 4:16:11 PM PDT by lurk
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To: Red in Blue PA

I find it hard to believe that people in the 95% percentile are down. If you had $1.6 million in assets in 2007, you should have much more today. Values of every financial asset class have soared, you can’t help making profits.

I am in this group myself. Thanks to my 50% savings rate and the Bernanke’s flying stock market, I have nearly doubled since 2007. I know the stock values are illusory and can’t last, but it’s been a nice run.


28 posted on 06/30/2014 4:40:22 PM PDT by proxy_user
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To: lurk

‘driving my ‘95 Camry...’ Lots of folks were raised to care about what others think about their stuff. My ‘97 Camry has a 190,000 and attracts attention from neither the police or the thugs. Since it is my dog car I always have a clean beach towel to use in the passenger seat when someone needs a ride. Must maintain standards.


29 posted on 06/30/2014 4:48:03 PM PDT by dogcaller
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To: Red in Blue PA

> this has been my experience under Obama’s reign of terror. I had quite a bit socked away up but Obama’s piss poor economic policies, runaway inflation that ran the price of everything way up, and increased taxation / regulatory fees sucker punched my savings to death. Just about all of my white friends have Jarretized as well...


30 posted on 06/30/2014 5:22:15 PM PDT by jsanders2001
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To: Red in Blue PA

> Bet you anything he is not paying taxes. To the state, he is a criminal.

To Obama he is a hero.


31 posted on 06/30/2014 5:24:59 PM PDT by jsanders2001
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To: Red in Blue PA


Whut chew talkin bout foo? I gots mo free stuff den ah ever done got.
32 posted on 06/30/2014 5:47:17 PM PDT by Old Yeller (Anything is possible, if you don't know what you're talking about.)
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To: Popman

“Insurance, fuel, food, basic goods have skyrocketed in price... We are feeling the pinch...”

Same here; the inflation that is denied by the government is eating away our paychecks. The same government that fudges the inflation numbers to suppress entitlement increases is chock-full of Democrats pushing to increase the minimum wage to deal with...inflation.


33 posted on 06/30/2014 7:51:33 PM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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