Abysmal Obamanomics: U.S. households 55% poorer

By
May 31, 2013

Read the whole thing:

The average U.S. household has a long way to go to recover the wealth it lost to the Great Recession, a report by the Federal Reserve Bank of St. Louis concluded Thursday.

The typical household has regained less than half its wealth, the analysis found. A separate Federal Reserve report in March calculated that Americans as a whole had regained 91 percent of their losses.

Household wealth plunged $16 trillion from the third quarter of 2007 through the first quarter of 2009. By the final three months of 2012, American households as a group had regained $14.7 billion.

Yet once those figures are adjusted for inflation and averaged across the U.S. population, the picture doesn’t look so bright: The average household has recovered only 45 percent of its wealth, the St. Louis Fed concluded.

via U.S. households 55% poorer, on average | The Morning Sentinel, Waterville, ME.



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Comments:
  1. Steve says:

    Y’see, Dan, we’re not spending enough on food stamps. Every dollar spent on food stamps boosts GDP by $1.70:

    http://www.nytimes.com/2013/05/31/opinion/from-the-mouths-of-babes.html

    Get with the program pal, we need more people in poverty, not less.

    • Ragspierre says:

      Kwazy Krugman seriously outdoes himself in that crap0thon.

      And he’s very, very angry…

  2. Ragspierre says:

    The report found that the most fragile households were not well educated, relatively young or black or Hispanic, or some combination of those characteristics. Those families tended to have low savings combined with high debt and accrued much of their wealth through housing…
    ———————————-

    So, the very demographics that support Obama are his worst victims.

    Ironic…

  3. Steve says:

    Happy Ending! Newborn baby flushed down toilet and found in sewage pipe is released from hospital w/ Grandparents

    http://www.commoncts.blogspot.com/2013/05/happy-ending-newborn-baby-flushed-down.html

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