Federal Reserve: Americans $9 Trillion Richer...

[Cammmpbell]

I haven't bothered clicking on the link, but does it bother mentioning how much the dollar has declined in value in that timespan?

Shit happens. In 1939 a gallon of milk was $0.11 to $0.15. Now it's about $4.50- $5.00.

It didn't happen yesterday.

In 1948-1950 a corporate executive earned about 10-15 times what a carpenter or plumber made. By the 1970's that multiplier had grown to 50 times as much. Guess what it was in 2010.......about 550 times as much. Last year a corporate executive made about 550 times as much a year as a craftsman or assembly line worker. Even at that their greed is such that they hire accountants to screw and skim every last cent away from the middle class that is humanly possible. Something will happen in this country to straighten out this mess. If it doesn't I'm afraid it will be done with force:

 

[editec]

If one computes changes in economy solely on dollar amounts one is apt to be mislead.

It is QUALITY OF LIFE that truly describes economic circumstance.

Are most American better off than in the past?

Hell no.

Some certainly are, but the majority, about 80% of the population has been losing ground for about the last 30 years.

About half the popilation is currently finding itself in extreme economic uncertainty.

THAT is not a sustainable state of affairs for a nation with a respresentational form of government.

 

[Cammmpbell]

If one computes changes in economy solely on dollar amounts one is apt to be mislead.

It is QUALITY OF LIFE that truly describes economic circumstance.

Are most American better off than in the past?

Hell no.

Some certainly are, but the majority, about 80% of the population has been losing ground for about the last 30 years.

About half the popilation is currently finding itself in extreme economic uncertainty.

THAT is not a sustainable state of affairs for a nation with a respresentational form of government.

Life is better for the upper half. That makes it even worse for the lower half because their families can't eat or play like others. You know.....back when the upper 5% was in one boat, a bigger boat, and everybody else was in another, a smaller boat it didn't make as much difference. Now that the divide has grown to be more like half have and half don't.......it really is a more noticible difference.

Recently my wife and I were driving on a bypass around a summertime vacation resort and traffic was nearly stopped....moving at a snail's pace. Most of the cars were no more than two or three years old and it took us about an hour and a half to travel no more than 5 miles. A few months ago we took a little mini vacation to Las Vegas. It was during spring break and they were having the basketball playoffs there at the same time. One had trouble making their way to a slot machine. I said to her, "You Know......I Thought We Were In A Recession." Obviously a hundred million or more people in this country can afford to do just about anything they want to and about a hundred million or more can't afford shit. Don't forget....the kids are just along for the ride.

 

[Chris]

Your right, future generations of Americans have bright futures ahead of them serving private tyranny's like McDonalds and Wal-Mart. They will still be on food stamps, still losing there homes, still having no insurance....

You need to get out more.

There is tons of money to be make in America.

Reality is a bitch, but I guess when you cant argue with it... Just insult the messenger.

Liberals and corporate liberals have alot in common.

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

 

[Cammmpbell]

You need to get out more.

There is tons of money to be make in America.

Reality is a bitch, but I guess when you cant argue with it... Just insult the messenger.

Liberals and corporate liberals have alot in common.

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

One can only hope!

 

[The Rabbi]

You need to get out more.

There is tons of money to be make in America.

Reality is a bitch, but I guess when you cant argue with it... Just insult the messenger.

Liberals and corporate liberals have alot in common.

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

 

[Cammmpbell]

Reality is a bitch, but I guess when you cant argue with it... Just insult the messenger.

Liberals and corporate liberals have alot in common.

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

Depends upon one's viewpoint. George W. Bush doubled the national debt and left over 4000 young Americans dead in the desert. He said god told him to invade Iraq. You know what....I believe what really caused him to tell a thousand lies about WMD's was the fact that Saddam Hussein tried to assassinate his daddy in 1993. That's what I believe.

Shucks...old man Bush still makes an assisted parachute jump on his b'days. 'Course the last one he made a woman went along to be sure he didn't faint and fail to guide the chute to the field they landed in. Kinda' reminded me of W. Bush standing on that aircraft carrier and declaring the military mission accomplished about seven years and 4000 lives prematurely.

 

[The Rabbi]

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

Depends upon one's viewpoint. George W. Bush doubled the national debt and left over 4000 young Americans dead in the desert. He said god told him to invade Iraq. You know what....I believe what really caused him to tell a thousand lies about WMD's was the fact that Saddam Hussein tried to assassinate his daddy in 1993. That's what I believe.

Shucks...old man Bush still makes an assisted parachute jump on his b'days. 'Course the last one he made a woman went along to be sure he didn't faint and fail to guide the chute to the field they landed in. Kinda' reminded me of W. Bush standing on that aircraft carrier and declaring the military mission accomplished about seven years and 4000 lives prematurely.

Start pointing out Obama's record and the subject becomes "BOOOSH! DAT BOOOSHHH!" Never fails.
Obama is the worst president in US history. Hell, he is the worst president ever.

 

[Trajan]

Than When Obama Took Office:



Year______Total Net Worth

2009-01-01 $49523.62 <--- Obama Takes Office
2009-04-01 50625.60
2009-07-01 53360.65
2009-10-01 54239.35
2010-01-01 55465.57
2010-04-01 54203.25
2010-07-01 55360.19
2010-10-01 57788.52
2011-01-01 58873.09
2011-04-01 $58730.14 <---- Most Recent Data

Difference = $9.2 Trillion.

Source: http://research.stlouisfed.org/fred2/data/TNWBSHNO.txt

so, this apparently has no calculation for net liabilities etc...because I cannot see how the public is nine trillion richer.


how did they calculate this figure, exactly?

and of course that begs the question, then what are the 99% squawking about?

The calculations are net, not gross. Americans have been paying down debt over the last few years.

You can find a wealth of information by clicking the first link, or google FRED.

Probably about the disproportionate share of wealth that goes to the rich.

humm, net wages have fallen, and the spending season seems to be ramped up, outspending that quotient......so?

 

[Chris]

Reality is a bitch, but I guess when you cant argue with it... Just insult the messenger.

Liberals and corporate liberals have alot in common.

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

Want to bet?

 

[Listening]

Reality is a bitch, but I guess when you cant argue with it... Just insult the messenger.

Liberals and corporate liberals have alot in common.

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

That's right.

The train left the station and is headed right over a cliff.

 

[Listening]

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

Want to bet?

Bet what ?

That Obama is the worst president since Haffez Assad ?

How does that work ?

 

[Chris]

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

Want to bet?

Bet what ?

That Obama is the worst president since Haffez Assad ?

How does that work ?

I wasn't talking to you.

Although I am going to enjoy the next 12 months tremendously.

 

[likeabird03]

You need to get out more.

There is tons of money to be make in America.

Reality is a bitch, but I guess when you cant argue with it... Just insult the messenger.

Liberals and corporate liberals have alot in common.

Unemployment drops to 8.6%

Auto sales up 13.9%,

Pending home sales up 10%,

Retail sales up 16%,

The stock market up 500 points...

It looks like the train is leaving the station.

See instead of addressing the graph he just spouts off the same old sh**. Either in graph form or non-graph form. And he ignored any interpretation made by anyone in regards to his graphs or anyone elses.

 

[JWBooth]

 

[Chris]

Housing market still dropping. UE rate goes down because fewer people are looking for work. Europe a shambles. China slowing down. Stock market poised to drop.
Looks like the second shoe is fixing to drop.
Obama is the worst president since Haffez Assad.

Depends upon one's viewpoint. George W. Bush doubled the national debt and left over 4000 young Americans dead in the desert. He said god told him to invade Iraq. You know what....I believe what really caused him to tell a thousand lies about WMD's was the fact that Saddam Hussein tried to assassinate his daddy in 1993. That's what I believe.

Shucks...old man Bush still makes an assisted parachute jump on his b'days. 'Course the last one he made a woman went along to be sure he didn't faint and fail to guide the chute to the field they landed in. Kinda' reminded me of W. Bush standing on that aircraft carrier and declaring the military mission accomplished about seven years and 4000 lives prematurely.

Start pointing out Obama's record and the subject becomes "BOOOSH! DAT BOOOSHHH!" Never fails.
Obama is the worst president in US history. Hell, he is the worst president ever.

George W. Bush inherited a strong economy, a budget surplus, and a nation at peace.

Eight years later, he left Obama with a shattered economy, a trillion dollar deficit, and two useless wars.

Obama saved the country from another Great Depression, rebuilt GM, reformed healthcare, reformed Wall Street, doubled the stock market, created 7 straight quarters of GDP growth, created 19 straight months of private sector job growth, got Bin Laden, got Gaddafi, and got us out of Iraq.

And now with the automatic spending cuts and the expiration of the Bush tax cuts in 2012, Obama has solved the deficit problem as well.

Obama has done a very good job.

 

[Listening]

Depends upon one's viewpoint. George W. Bush doubled the national debt and left over 4000 young Americans dead in the desert. He said god told him to invade Iraq. You know what....I believe what really caused him to tell a thousand lies about WMD's was the fact that Saddam Hussein tried to assassinate his daddy in 1993. That's what I believe.

Shucks...old man Bush still makes an assisted parachute jump on his b'days. 'Course the last one he made a woman went along to be sure he didn't faint and fail to guide the chute to the field they landed in. Kinda' reminded me of W. Bush standing on that aircraft carrier and declaring the military mission accomplished about seven years and 4000 lives prematurely.

Start pointing out Obama's record and the subject becomes "BOOOSH! DAT BOOOSHHH!" Never fails.
Obama is the worst president in US history. Hell, he is the worst president ever.

George W. Bush inherited a strong economy, a budget surplus, and a nation at peace.

Eight years later, he left Obama with a shattered economy, a trillion dollar deficit, and two useless wars.

Obama saved the country from another Great Depression, rebuilt GM, reformed healthcare, reformed Wall Street, doubled the stock market, created 7 straight quarters of GDP growth, created 19 straight months of private sector job growth, got Bin Laden, got Gaddafi, and got us out of Iraq.

And now with the automatic spending cuts and the expiration of the Bush tax cuts in 2012, Obama has solved the deficit problem as well.

Obama has done a very good job.

Oh look more ink.

Bush got a recession from Clinton and took a hit on 9/11 too.

The only thing President Obama saved us from was a recovery.

Good job.

 

[likeabird03]

Depends upon one's viewpoint. George W. Bush doubled the national debt and left over 4000 young Americans dead in the desert. He said god told him to invade Iraq. You know what....I believe what really caused him to tell a thousand lies about WMD's was the fact that Saddam Hussein tried to assassinate his daddy in 1993. That's what I believe.

Shucks...old man Bush still makes an assisted parachute jump on his b'days. 'Course the last one he made a woman went along to be sure he didn't faint and fail to guide the chute to the field they landed in. Kinda' reminded me of W. Bush standing on that aircraft carrier and declaring the military mission accomplished about seven years and 4000 lives prematurely.

Start pointing out Obama's record and the subject becomes "BOOOSH! DAT BOOOSHHH!" Never fails.
Obama is the worst president in US history. Hell, he is the worst president ever.

George W. Bush inherited a strong economy, a budget surplus, and a nation at peace.

Eight years later, he left Obama with a shattered economy, a trillion dollar deficit, and two useless wars.

Obama saved the country from another Great Depression, rebuilt GM, reformed healthcare, reformed Wall Street, doubled the stock market, created 7 straight quarters of GDP growth, created 19 straight months of private sector job growth, got Bin Laden, got Gaddafi, and got us out of Iraq.

And now with the automatic spending cuts and the expiration of the Bush tax cuts in 2012, Obama has solved the deficit problem as well.

Obama has done a very good job.

Bush caused a trillion dollar deficit?

Oh and 7 quarters of sub-par GDP growth is hardly impressive historically. In fact it's the weakest recovery on record.

 

[Chris]

 

[likeabird03]

That was not a reply.

And your point? You need to add some commentary so we A)Know what you're trying to argue, and B)We know you even have an idea about what you're posting, something I seriously doubt.

So I'm going to try and guess at what you're trying to say since words seemed to have escaped you.

You may be trying to say that Bush increased the debt as a percentage, which is true but Obama has increased it far faster despite what you say about him being some savior of the economy. Whoever made that graph (looks like someone with few computer resources) neglected to include the line where Obama took office, which was right at the start of the huge upswing in debt levels we're experiencing.

You may also be trying to argue that the current debt levels are no big deal because they were higher during FDR as the graph shows. We were not in a debt crises at that time and added debt actually had more power to increase growth back then, we experienced growth at nearly 10% during that time. Now, Obama has also increased debt at a very fast rate too, and yet our economy is still hardly growing. I would feel a lot better about accumulating this much debt if it actually paid off, but obviously it's not.