Wehrwolfen
Senior Member
- May 22, 2012
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Another Record
US Household Net Worth Reaches 43 Year Low Under Obama
[ame="http://www.youtube.com/watch?v=h8KS2XFUMYY&list=PL346240BD30B441AE&feature=player_embedded#!"]http://www.youtube.com/watch?v=h8KS2XFUMYY&list=PL346240BD30B441AE&feature=player_embedded#![/ame]
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.
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/
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