Another Record US Household Net Worth Reaches 43 Year Low Under Obama

[Wehrwolfen]

Another Record… US Household Net Worth Reaches 43 Year Low Under Obama​

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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.”

Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent.​

Read more:
http://www.thegatewaypundit.com/2012/11/elections-have-consequences-us-household-net-worth-reaches-43-year-low-under-obama/

 

[tyroneweaver]

barry can't hear you..he's in Hawaii.

 

[Wehrwolfen]

Middle Class Net Worth Collapses to 1969 Levels
​

by John Nolte
1 Dec 2012

The angle of a just-released New York University study is, of course, that ole' left-wing canard known as "income inequality," but the findings are still useful in drawing other conclusions, and not ones that are very pleasant. Is America now a bigger version of Chicago, where Democrats and the media have so expertly rigged the electoral game that, even as their policies fai,l they're able to stay in power?

According to the study, we are now back to 1969 levels with respect to median net worth in this country. A large part of this is the housing crisis we've yet to recover from, which cost the middle class 18% of its net worth. The news isn't much better with respect to median incomes, which have dropped to $26,364, setting us all the way back to 1999.


[excerpt]

Read more:
Middle Class Net Worth Collapses to 1969 Levels

 

[Wehrwolfen]

barry can't hear you..he's in Hawaii.

Yes he is. He's there to check on the progress of construction on his $35 miilion mansion, you peasant.

 

[Quantum Windbag]

Buuuuuuuuuusssssssssshhhhhhhhhh!!!!!!!!!!!!!!!!!!!!

 

[Oldguy]

Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent​

Does that tell you anything?

And, of course, there's more to the story:


http://www.nytimes.com/2012/06/12/b...rops-to-level-of-early-90s-fed-says.html?_r=0​