Net worth of U.S. family drops 40% in 3 years

[The Rabbi]

1839
1873
1929





"Should have" according to what metric? Something you just pulled out of your ass?

Here:
United States GDP Growth Rate
Recession of 1947-8 had 3.1% decline in GDP, followed by strong growth, about 15%
1960 had only 1.7% decline, followed by less strong growth
73-75 had 3.2% decline, followed by nearly 10% growth
81-81 saw 2.7% decline followed by 8% growth
This one had a 5% decline and has been followed by 3.5% max growth.

Which one is the oddball in this picture?

You said sharp recession is ALWAYS followed by sharp recovery.
I pointed out three cases where that is not true:
1839
1873
1929
Then you respond with a list of cases where it is true.

I suspect we're operating on different definitions of the word "ALWAYS".



EDIT: Besides, isn't it the right wing mantra that we can't judge today's President by yesterday's? Or is it only Bush we're not allowed to talk about?

Every one of those cases was pre WW2. The economy post war is very different from pre war.
Your argument is a fail.

 

[ClosedCaption]

Well thats because Americans personal responsibility and gumption has taken a sharp downturn as well, right Repubs?

 

[The Rabbi]

Well thats because Americans personal responsibility and gumption has taken a sharp downturn as well, right Repubs?

Actually because FDR's stupid policies made government central in the economy.

 

[tjvh]

My wife and I's total income has increased about 66% since we got married 5 years ago - but our spending has maybe gone up 10%. As a consequence we were able to make a 20% down payment on duplex (home + rental unit) and have a sizeable "emergency" fund.

Of course we're about to have our first kid so I'm sure that will change as the great sucking of money begins.

That's for sure. I just had my second. Talk about expensive.

Oh, and congratz.

We're very lucky to have access to affordable health care. I work for LSU and it costs less than 100 bucks a month to add the little ma fa to our policy.

Day care - going to be around $850 per month.

The school system sucks here so prolly private school at some point.

Then I guess you've got to feed the thing, too, right?

Kind of like owning a puppy I suppose.

 

[KissMy]

Americans saw wealth plummet 40*percent from 2007 to 2010, Federal Reserve says - The Washington Post

My net worth has soared compared to 3 years ago.

So did someone die & leave you money? Lotto? Or did you get more food stamps, welfare, unemployment, snap, wic, etc. Or did you rob someone & hit the jack-pot.

 

[KissMy]

How do we fix it?

1. Repeal FSMA of 1999 and the CFMA of 2000.

2. Regulate CDS the same way insurance is regulated, and ban naked CDS outright. A buyer of CDS must establish an insurable interest.

3. Require OTC derivatives to be traded on a public exchange.


Wall Street will fight this tooth and nail, of course. That last one particularly bites into their profits because the current structure prevents a price point from being established, which means they can rape the living shit out of their clients. It also means they have to put up collateral for every deal they make, thus making defaulting on a triggered credit event less likely. Which is as it should be.

The problem with banning naked CDS is that much of it looks naked but is really not. Instead, it is often used to hedge other long positions.

I wish I could have naked shorted FaceBook (FB). The damage was mostly done by the time Ameritrade listed the options.

 

[rdean]

Half the GOP, 20% of the USA, now believe Obama started this mess. So STOOOPID!

I have never heard anyone say Obama started this mess, Obama has failed to correct the mess like he promised on a dozen occasions.

Obama Promise to Cut Debt in half in 4 years .....


[ame=http://www.youtube.com/watch?v=II-9Q-kExYo]Obama's Deficit Reduction Promise - YouTube[/ame]

16 Lies in Obama's own Words

[ame=http://www.youtube.com/watch?v=EpLWCvIZDuI&feature=related]Obama - 16 broken promises - YouTube[/ame]

The One Term President lie, Obama says he is accountable... what a liar

[ame=http://www.youtube.com/watch?v=CCN5-ovvFL0]FLASHBACK: Obama: My Presidency Will Be 'A One-Term Proposition' If Economy Doesn't Turn In 3 Years - YouTube[/ame]

No Hype here, Obama own words......lol.......

.

I missed the word "promise". Could you point it out on the time line in the video? Would appreciate the help. Thanks.

 

[Si modo]

Half the GOP, 20% of the USA, now believe Obama started this mess. So STOOOPID!

I have never heard anyone say Obama started this mess, Obama has failed to correct the mess like he promised on a dozen occasions.

Obama Promise to Cut Debt in half in 4 years .....


[ame=http://www.youtube.com/watch?v=II-9Q-kExYo]Obama's Deficit Reduction Promise - YouTube[/ame]

16 Lies in Obama's own Words

[ame=http://www.youtube.com/watch?v=EpLWCvIZDuI&feature=related]Obama - 16 broken promises - YouTube[/ame]

The One Term President lie, Obama says he is accountable... what a liar

[ame=http://www.youtube.com/watch?v=CCN5-ovvFL0]FLASHBACK: Obama: My Presidency Will Be 'A One-Term Proposition' If Economy Doesn't Turn In 3 Years - YouTube[/ame]

No Hype here, Obama own words......lol.......

.

I missed the word "promise". Could you point it out on the time line in the video? Would appreciate the help. Thanks.

I didn't hear promise, either. He just fucking lied.

 

[Conservative]

Half the GOP, 20% of the USA, now believe Obama started this mess. So STOOOPID!

I have never heard anyone say Obama started this mess, Obama has failed to correct the mess like he promised on a dozen occasions.

Obama Promise to Cut Debt in half in 4 years .....


[ame=http://www.youtube.com/watch?v=II-9Q-kExYo]Obama's Deficit Reduction Promise - YouTube[/ame]

16 Lies in Obama's own Words

[ame=http://www.youtube.com/watch?v=EpLWCvIZDuI&feature=related]Obama - 16 broken promises - YouTube[/ame]

The One Term President lie, Obama says he is accountable... what a liar

[ame=http://www.youtube.com/watch?v=CCN5-ovvFL0]FLASHBACK: Obama: My Presidency Will Be 'A One-Term Proposition' If Economy Doesn't Turn In 3 Years - YouTube[/ame]

No Hype here, Obama own words......lol.......

.

I missed the word "promise". Could you point it out on the time line in the video? Would appreciate the help. Thanks.

So, anyone can say anything they want, as long as they don't use the word promise, they cannot be held accountable... got it.

That goes for Republican politicians too, right?

No?

Thought so.

Dumb ass.

 

[francoHFW]

No one could imagine Pubs could be such incredible a-holes in THEIR DEPRESSION...

 

[Conservative]

No one could imagine Pubs could be such incredible a-holes in THEIR DEPRESSION...

And everyone knows what an asshole you are in your depression.

 

[francoHFW]

Very clever, Pub dupe. LOL!

 

[Toro]

I have never heard anyone say Obama started this mess, Obama has failed to correct the mess like he promised on a dozen occasions.

Obama Promise to Cut Debt in half in 4 years .....


Obama's Deficit Reduction Promise - YouTube

16 Lies in Obama's own Words

Obama - 16 broken promises - YouTube

The One Term President lie, Obama says he is accountable... what a liar

FLASHBACK: Obama: My Presidency Will Be 'A One-Term Proposition' If Economy Doesn't Turn In 3 Years - YouTube

No Hype here, Obama own words......lol.......

.

I missed the word "promise". Could you point it out on the time line in the video? Would appreciate the help. Thanks.

So, anyone can say anything they want, as long as they don't use the word promise, they cannot be held accountable... got it.

That goes for Republican politicians too, right?

No?

Thought so.

Dumb ass.

Maybe he had his fingers crossed behind his back.

 

[Vast LWC]

THIS IS A POLITICS FORUM s0n!!!!!

All of your reasoning doesnt matter for shit.........ideology in a POLITICS forum is gay. Its all about perception..........perception...........perception.

s0n.........I suggest getting a good supply of Benedryl and rye whiskey for election night!!

As if there was any doubt that Skook was a massive liar. He now admits it to everyone.

Apparently things like reason and logic don't matter in this forum, because it's a "politics forum".

Well done "s0n".

 

[Vast LWC]

Every one of those cases was pre WW2. The economy post war is very different from pre war.
Your argument is a fail.

Every one of those cases were pre world war II, because that period is more similar to the post 2000 deregulation than any period in the later 20th century.

You people repealed every economic protection that has prevented disaster since WWII, and then you're surprised when the economy collapses and the average American loses 40% of their net worth?

And now you're trying to blame the administration that follows your disastrous crap for not being able to fix it fast enough.

Fucking priceless.

In which recession of the 70's, 80's or 90's did the average American lose 40% of their net worth?

 

[Vast LWC]

Actually because FDR's stupid policies made government central in the economy.

FDR's "stupid policies" is what prevented economic disaster for all those years, until a Republican congress repealed them, and then, lo and behold, a mere 10 years later, the economy collapsed.

What a shock.

 

[francoHFW]

Wrong.
Tell me what was different between the 1980 recession and this one. Or the one in 2000.

This one had a NINE per cent economic retraction, even with 2 trillion in bailouts and stimulus, and is WORLDWIDE. Super job, pubbies! Pub dupes...

THIS IS A POLITICS FORUM s0n!!!!!


All of your reasoning doesnt matter for shit.........ideology in a POLITICS forum is gay. Its all about perception..........perception...........perception.


s0n.........I suggest getting a good supply of Benedryl and rye whiskey for election night!!

Perception, ideology- that's you Pub dupes all over- you aren't told facts, just lies. Your perception is BULLSHYTTE, your ideology is based on BULLSHYTTE. A 9% retraction, and worldwide depression, is as bad as 1929-31- nothing like the 3% ones you refer too.

After years of Rush/Fox/Beck- all the same Pub propaganda, you're a functional idiot/hater. Change the channel or go to hell, literally. God doesn't do willful ignorance/hate.

 

[OohPooPahDoo]

What I would think of myself if I were Republican:

I make twice as much money as I did 2 years ago, live well, and have plenty to spare. Its because I'm such an awesome person. I work really hard, harder than those lazy good for nothing school teachers and liberals, and I make all the right decisions. Since I earn well above the median pay - that must mean I'm morally and intellectually superior to most people. I'm not lucky at all, I'm just a harder work than most and a better person.


The real truth:

I have worked very hard but I'm also very, very lucky. I was raised in a two parent home with a stay-at-home mom. Both my folks were involved in my education and my father made enough money to send me to a top tier Catholic high school, during which time I was able to earn a free ride through college with a stipend (National Merit) LUCK That combined with the raw mental talent I was born with (LUCK) and my hard work (WORK), and a whole bunch of circumstances, and I get paid very well to do what it is I love to do. I feel VERY lucky. I'd say my success is about 65% luck. If I had to list all the unlikely events that led to where I'm at it would take a while

 

[buckeye45_73]

Actually because FDR's stupid policies made government central in the economy.

FDR's "stupid policies" is what prevented economic disaster for all those years, until a Republican congress repealed them, and then, lo and behold, a mere 10 years later, the economy collapsed.

What a shock.

wow, what got the country out was WW2...and I bet you say wars never solve anything, dont ya?
As for the depresion, funny how it lasted 10 years with a democrat, actually it's funny how downturns last longer with democrats. Other than Barack, when was the last time we've had 4 worse years in a row?

 

[The Rabbi]

Actually because FDR's stupid policies made government central in the economy.

FDR's "stupid policies" is what prevented economic disaster for all those years, until a Republican congress repealed them, and then, lo and behold, a mere 10 years later, the economy collapsed.

What a shock.

wow, what got the country out was WW2...and I bet you say wars never solve anything, dont ya?
As for the depresion, funny how it lasted 10 years with a democrat, actually it's funny how downturns last longer with democrats. Other than Barack, when was the last time we've had 4 worse years in a row?

FDR's policies did not prevent disaster. THey were the disaster. Not that Hoover was a lot better. But Hoover was also a progressive.