Recovery sees private wealth soaring $9T, thank Obama?

[Moonglow]

unions are organized and hence have lobbyist representation in Congress, unorganized or non-union workers do not have and organized lobby group effort in Congress.

 

[rightwinger]

Don't worry.....it will all trickle down

You have to be patient

 

[expat_panama]

...Has Obama ever openly proposed doing something to the detriment of a specific group of people?...

Sure he has, he's been clear on that since day one.

Back in ‘Dreams From My Father,’ (page 83) he developed the vision to "show people how much power they have once they stop fighting each other and start going after the real enemy... ...investment bankers." During the campaign, instead of wealth creation he emphasized taking wealth from some and giving it to others of his choosing --"spread the wealth around". More recently on Dec 2009 on 60 Minutes he says "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street."

Class warfare.

 

[boedicca]

Since the recovery began 2-1/2 years ago private household wealth has increased by almost $9Trillion while private debt's been falling steadily. It's all in "Balance Sheet of Households" on page 104 of the Fed's latest flow of funds report. While some say we should thank Obama for handling the economy so well, others would complain that American households still haven't recouped $8Trillion in losses since the 2007 peak.

More info:

FRB: Z.1 Release--Flow of Funds Accounts of the United States--June 9, 2011
Household Wealth Gets Strong Bounce Even as Home Equity Falls

The chart you provided includes Non-Profits...which include large tax-exempt charitable trusts, university endowments etc. Try finding some actual data regarding only households.

 

[Wonky Pundit]

...Has Obama ever openly proposed doing something to the detriment of a specific group of people?...

Sure he has, he's been clear on that since day one.

Back in ‘Dreams From My Father,’ (page 83) he developed the vision to "show people how much power they have once they stop fighting each other and start going after the real enemy... ...investment bankers." During the campaign, instead of wealth creation he emphasized taking wealth from some and giving it to others of his choosing --"spread the wealth around". More recently on Dec 2009 on 60 Minutes he says "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street."

Class warfare.

You do understand the difference between not wanting to help bankers versus wanting to hurt them?

Also, you know what Warren Buffett says about class warfare.

 

[Wiseacre]

...Has Obama ever openly proposed doing something to the detriment of a specific group of people?...

Sure he has, he's been clear on that since day one.

Back in ‘Dreams From My Father,’ (page 83) he developed the vision to "show people how much power they have once they stop fighting each other and start going after the real enemy... ...investment bankers." During the campaign, instead of wealth creation he emphasized taking wealth from some and giving it to others of his choosing --"spread the wealth around". More recently on Dec 2009 on 60 Minutes he says "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street."

Class warfare.

That was Wonky that said that, not me.

 

[expat_panama]

...Wonky that said that, not me.

Fixed.

Thanks.

 

[expat_panama]

...You do understand the difference between not wanting to help bankers versus wanting to hurt them?....

Something more to the point is how most people here fully understand not only the difference between "not wanting to help" a particular group and being a president ready to help all groups, but also the difference between "not wanting to help" bankers and labeling them "fat cats" and "the enemy" and then saying everyone should "go after" them.

 

[Wonky Pundit]

...Has Obama ever openly proposed doing something to the detriment of a specific group of people?...

Sure he has, he's been clear on that since day one.

Back in ‘Dreams From My Father,’ (page 83) he developed the vision to "show people how much power they have once they stop fighting each other and start going after the real enemy... ...investment bankers." During the campaign, instead of wealth creation he emphasized taking wealth from some and giving it to others of his choosing --"spread the wealth around". More recently on Dec 2009 on 60 Minutes he says "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street."

I would have preferred not to embarrass you with this, but your quote from "Dreams" is completely false.

The full text of page 83 is in Google Books, and as we all can see, it says absolutely nothing about investment bankers or anyone's enemy.

Can we stick to the truth from this point forward?

 

[expat_panama]

...I would have preferred not to embarrass you...

LOL!! That's preposterous --come on Wank, embarrassing me makes your day!

--but hey it's OK, be proud of it, lot's of people on these threads probably even the majority are glued to personalities and who's embarrassing whom so I'm not about to criticize the driving force here. It's just that I'm not very good at it and plus I kind of like issues and info more compared to this other stuff. We're all good people and we're all different so I'll take a pass here and leave all that to them that can.

 

[Wonky Pundit]

...I would have preferred not to embarrass you...

LOL!! That's preposterous --come on Wank, embarrassing me makes your day!

--but hey it's OK, be proud of it, lot's of people on these threads probably even the majority are glued to personalities and who's embarrassing whom so I'm not about to criticize the driving force here. It's just that I'm not very good at it and plus I kind of like issues and info more compared to this other stuff. We're all good people and we're all different so I'll take a pass here and leave all that to them that can.

I'll admit that embarrassing you is not without its enjoyment factor, but the least you can do in return is admit to your mistake about the quote.

 

[Sallow]

Thank Bernanke.

It's a canard to blame or not blame Obama for not being back at the 2007 peak. We were at that level in 2007 because of a massive, artificial housing bubble that should never have existed. Without that bubble, we wouldn't be in the mess we are today. What should Obama do, create another, bigger bubble?

We have to let the economy run its course. We didn't do that at the beginning of the century and now we are paying for it.

What the heck do you mean by that?

The economy isn't some magical unicorn. It's an human abstract directly effected by human decision making.