More Economic GOOD NEWS: Americans Net Worth UP 1.3%

Discussion in 'Politics' started by rightwinger, Mar 11, 2010.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Net worth climbs as stocks recover, rises 1.3% in 4Q - USATODAY.com

    WASHINGTON — American households saw their wealth increase at the end of last year, mainly because the healing economy boosted stock portfolios.
    The Federal Reserve said Thursday that household net worth rose 1.3% in the fourth quarter to $54.2 trillion. It marked the third straight quarter of gains. Net worth rose 4.5% in the second quarter of 2009 and an even stronger 5.5% in the third quarter.


    Net worth is the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards.

    Even with the gain, Americans' net worth would have to rise an additional 21% to get back to its pre-recession peak of $65.9 trillion. That shows the vast loss of wealth people have suffered from the worst downturn since the 1930s



    So the Net Worth of Americans have gone up 11.3% in the last three quarters of 2009. This translates to an increase of over $6 trillion in the last year.

    It should be noted that Americans lost $18 trillion in net worth in the last years of the Bush administration

    How is that "Hopey/Changey" working out for ya??
     
  2. DiamondDave
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    DiamondDave Army Vet

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    My net worth gained the entire time under Bush too... did not dip once, really... but that is because of my financial decisions, not what any President is really doing... I could just as easily be losing net worth under Obama as I am gaining it
     
  3. Soggy in NOLA
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    Thank God for Obama... he has saved us all through his brilliant stewardship and policies.

    THANK YOU THANK YOU THANK YOU!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  4. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    This is about the country and not Dave.

    The economic recession caused Americans to lose $18 trillion in personal wealth. That is the value of their homes, 401Ks, investments minus their debts.

    That $18 trillion is more than the current national debt ($12 trillion).

    In the last three quarters of 2009 we regained $6 trillion of that loss. That is real money for real Americans

    Definitely ECONOMIC GOOD NEWS
     
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  5. DiamondDave
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    DiamondDave Army Vet

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    The faulty thinking is having a value to a home before it is sold... you don't lose money or value to do try and do something against the value

    Not all 401K's lost

    Not all increased debt

    Not all stocks lost

    Again... this is about numerous personal net worths.. which can go up or down all on their own regardless of who is president
     
  6. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Why fight ECONOMIC GOOD NEWS Dave??

    We are talking about a composite increase in wealth of $6 trillion for Americans not individual cases. The end result was a net increase in wealth of 11.3%

    Now thats GOOD NEWS....anyway you cut it
     
  7. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Exactly. I have no debt other than a mortgage which is a fixed one, and my investments are well-balanced. I am actually still better off today.

    I guess my fiscal sanity makes me evil. I must have done this at some one else's expense.
     
  8. DiamondDave
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    Because this is not inherently tied to what the government is doing... as you are trying to portray it to be... as stated, no matter who is president people can and will go up or down all on their own on their own personal net worth
     
  9. ihopehefails
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    My networth went down so what do you say to that?
     
  10. Soggy in NOLA
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    Anyway, the market will tank.. big time later this year. And the same Bozo's that are heavily invested in the market for LT will watch their increases vaporize. It is a suckers market, for most.

    BANK ON IT.
     

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