A Surge In Wealth Has Boosted Most US Households Since 2020

[JustAGuy1]

Education is the path out of poverty.


Why should today's students have to go deeply into debt to get education. Tuition is 10 times what Boomers paid for their education. Why should today's students have to pay 10 times what we paid for our schooling????

Take it up with the Institutions who keep raising the costs.

 

[Lastamender]

A surge in wealth has boosted most US households since 2020 and helped sustain economic growth

The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2020 through 2022, while relatively low interest rates at that time made it easier for households to pay their debts.

apnews.com

Wealth for the median household — the midpoint between the richest and poorest households — jumped 37% during those three years, the Federal Reserve reported, to nearly $193,000. (The figures are adjusted for inflation.) The increase reflected primarily a jump in home values and higher stock prices and a rise in the proportion of Americans who own homes and stocks.


More good news:

Pay Raises Are Finally Beating Inflation After Two Years of Falling Behind​

​

Still more good news:
US Unemployment Rate Holds at 3.8%

Yet more good news. The Dow is at 33,000. That's 14 percent higher than during the peak of the Trump administration.




And the success keeps coming: We are producing more oil than ever before.

U.S. Energy Independence Soars To Highest Level In Over 70 Years​

The U.S. is pumping oil faster than ever. Republicans don’t care.​

I expect the reaction by those hoping for America to fail will be

 

[Woodznutz]

Education is the path out of poverty.

That depends on the field. Many get college degrees that only quality them for low paying government jobs. Many with poor academic credentials are accepted to college but are only able to master low-skilled courses. So, they graduate with debt that they have a hard time repaying.

My son has a degree in a field that is not only low paying but he would have to relocate to find a job.

 

[Nostra]

Education is the path out of poverty.


Why should today's students have to go deeply into debt to get education. Tuition is 10 times what Boomers paid for their education. Why should today's students have to pay 10 times what we paid for our schooling????

Just like earned income credits are a scam to subsidize low wage workers on the backs of the middle class, and is a leading reason for the decline of the middle class in America, student debt is yet another way for the rich to get richer, while working people get screwed.

And YOU, Fuck Boi, are voting for the party that is impoverishing the working and middle class, because you're just that STUPID.

Stupid story.

Now answer the question, Fuckwit.

 

[whitehall]

Is Christopher Rugaber a renowned economist or is he just another A.P. liberal hack who slapped a story together with faulty and skewed data? Lefties love it because they don't have to think about Americans struggling with inflation and high energy prices.

 

[Dragonlady]

Stupid story.

Now answer the question, Fuckwit.

I did answer the question but you didn’t answer mine. You’re really fucking quick to duck out of giving a response.

Why should todays students have to pay 10 times the tuition my generation paid??? Graduates aren’t getting 10 times the income.

And why are you still here nights and day posting for free? Why aren’t you working???

 

[Dragonlady]

Uncoupled from reality.

Yes you are but we’ve always know that about you.

 

[Dragonlady]

Is Christopher Rugaber a renowned economist or is he just another A.P. liberal hack who slapped a story together with faulty and skewed data? Lefties love it because they don't have to think about Americans struggling with inflation and high energy prices.

Are you incapable of googling to find out that information or are you just gonna go with your “feelings”?

 

[Meister]

The 1970's were worse.

And your point is????

 

[Billiejeens]

Meanwhile, real wages are down due to Bidenflation.

In the real world, how is that even in dispute?

 

[iamwhatiseem]

A surge in wealth has boosted most US households since 2020 and helped sustain economic growth

The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2020 through 2022, while relatively low interest rates at that time made it easier for households to pay their debts.

apnews.com

Wealth for the median household — the midpoint between the richest and poorest households — jumped 37% during those three years, the Federal Reserve reported, to nearly $193,000. (The figures are adjusted for inflation.) The increase reflected primarily a jump in home values and higher stock prices and a rise in the proportion of Americans who own homes and stocks.


More good news:

Pay Raises Are Finally Beating Inflation After Two Years of Falling Behind​

​

Still more good news:
US Unemployment Rate Holds at 3.8%

Yet more good news. The Dow is at 33,000. That's 14 percent higher than during the peak of the Trump administration.




And the success keeps coming: We are producing more oil than ever before.

U.S. Energy Independence Soars To Highest Level In Over 70 Years​

The U.S. is pumping oil faster than ever. Republicans don’t care.​

I expect the reaction by those hoping for America to fail will be

Odd... I don't remember you being among the absolute clueless when it comes to economics.

1) Almost ALL of the wage increases between 2019 - 2022 were in the lowest paid positions, and the highest paid positions. The entire middle class are way-way-way-way below the CPI.
2) The Household savings rate is crushingly low. Analyst are worried about the first quarter of 2024 as by then everyone will literally be out of money. Consumer bank accounts rose significantly during the pandemic of course... but now nearly all of that is gone.
3) The CPI - a FAR BETTER measure of pricing pressures is staggeringly high. Terrible.

The Democrats are shooting themselves in the foot big time by absurdly trying to say the economy is awesome - when everyone is running out of money.

 

[Billiejeens]

Good thing we hold most of the debt. I don't hold any myself, but I'm invested in companies that do.

who holds us debt 2023 - Bing

Intelligent search from Bing makes it easier to quickly find what you’re looking for and rewards you.

www.bing.com

Describe how you see that as a good thing.

 

[Billiejeens]

Odd... I don't remember you being among the absolute clueless when it comes to economics.

1) Almost ALL of the wage increases between 2019 - 2022 were in the lowest paid positions, and the highest paid positions. The entire middle class are way-way-way-way below the CPI.
2) The Household savings rate is crushingly low. Analyst are worried about the first quarter of 2024 as by then everyone will literally be out of money. Consumer bank accounts rose significantly during the pandemic of course... but now nearly all of that is gone.
3) The CPI - a FAR BETTER measure of pricing pressures is staggeringly high. Terrible.

The Democrats are shooting themselves in the foot big time by absurdly trying to say the economy is awesome - when everyone is running out of money.

G is a fraud.
Remember that.

 

[Dragonlady]

Youngsters were lured onto the rocks by the siren song of college. They should have covered their ears.

Education is the path out of poverty.

You just can't help lying, can you?

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
https://archives.hud.gov/news/1997/pr97-135.cfm

###

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending (Published 1999)

###

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

###

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg Politics - Bloomberg

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -

Bloomberg Politics - Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News on everything pertaining to politics

www.bloomberg.com

###

Democrats in their own words covering up the Fannie Mae, Freddie Mac


###

Timeline shows Bush, McCain warning Democrats of Financial Crisis


###

From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more:

New Agency Proposed to Oversee Freddie Mac and Fannie Mae (Published 2003)

Bush administration proposes new agency be created within Treasury Department to assume supervision of Fannie Mae and Freddie Mac, House Financial Services Committee hearing; new agency would have authority, which now rests with Congress, to set one of two capital-reserve requirements for...

www.nytimes.com

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

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Wall Street Journal Barney’s Rubble – September 17, 2008

Barney's Rubble - WSJ

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Barney Frank in 2005: What Housing Bubble?



###

Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.

https://www.usnews.com/opinion/blogs/barone/2008/10/06/democrats-were-wrong-on-fannie-mae-and-freddie-mac

###

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

###

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

###

I notice you didn't post any links to any of the Bloomberg headlines you claimed to be quoting.

WordPress and Newsmaxx articles blaming the economic and housing bubble of Democrats are bullshit. Wall Street greed in lending subprime mortgages are to blame, not Fannie & Freddie or the Democrats.

So take your bullshit lies and shove them up your ass.

W passed the "American Dream Act", which fuelled the Housing Bubble, along with his low interestt rates:

Record of Achievement - Expanding Home Ownership

Bush drive for home ownership fueled housing bubble (Published 2008)

www.nytimes.com

And then there's Wall Street greed:

https://www.cnbc.com/2013/09/13/culture-of-greed-five-years-after-lehman-financial-crash.html

https://www.usnews.com/opinion/articles/2013/01/04/greed-bailouts-and-the-causes-of-the-financial-crisis

 

[Woodznutz]

And your point is????

Jes' sayin'.

 

[g5000]

Odd... I don't remember you being among the absolute clueless when it comes to economics.

1) Almost ALL of the wage increases between 2019 - 2022 were in the lowest paid positions, and the highest paid positions. The entire middle class are way-way-way-way below the CPI.
2) The Household savings rate is crushingly low. Analyst are worried about the first quarter of 2024 as by then everyone will literally be out of money. Consumer bank accounts rose significantly during the pandemic of course... but now nearly all of that is gone.
3) The CPI - a FAR BETTER measure of pricing pressures is staggeringly high. Terrible.

The Democrats are shooting themselves in the foot big time by absurdly trying to say the economy is awesome - when everyone is running out of money.

Time to buy yourself some CDs!

 

[Meister]

Jes' sayin'.

Kinda like getting killed by a Semi is worse than getting killed by a motorcycle, huh?

 

[Woodznutz]

Describe how you see that as a good thing.

We receive most of the earned interest.

 

[Woodznutz]

Kinda like getting killed by a Semi is worse than getting killed by a motorcycle, huh?

I guess you had to be there, the '70's I mean.

 

[Billiejeens]

We receive most of the earned interest.

Ya got anything stronger than that?