More Economic GOOD NEWS: Americans Net Worth UP 1.3%

rightwinger

Award Winning USMB Paid Messageboard Poster
Gold Supporting Member
Joined
Aug 4, 2009
Messages
222,345
Reaction score
48,127
Points
2,190
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??
 

DiamondDave

Army Vet
Joined
Jun 30, 2008
Messages
18,169
Reaction score
2,824
Points
183
Location
MD, on the Potomac River
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
 

Soggy in NOLA

Diamond Member
Joined
Jul 31, 2009
Messages
40,569
Reaction score
5,353
Points
1,830
Thank God for Obama... he has saved us all through his brilliant stewardship and policies.

THANK YOU THANK YOU THANK YOU!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 
OP
rightwinger

rightwinger

Award Winning USMB Paid Messageboard Poster
Gold Supporting Member
Joined
Aug 4, 2009
Messages
222,345
Reaction score
48,127
Points
2,190
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

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
 

DiamondDave

Army Vet
Joined
Jun 30, 2008
Messages
18,169
Reaction score
2,824
Points
183
Location
MD, on the Potomac River
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

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

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
 
OP
rightwinger

rightwinger

Award Winning USMB Paid Messageboard Poster
Gold Supporting Member
Joined
Aug 4, 2009
Messages
222,345
Reaction score
48,127
Points
2,190
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

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

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

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
 

Soggy in NOLA

Diamond Member
Joined
Jul 31, 2009
Messages
40,569
Reaction score
5,353
Points
1,830
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.
 

DiamondDave

Army Vet
Joined
Jun 30, 2008
Messages
18,169
Reaction score
2,824
Points
183
Location
MD, on the Potomac River
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

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

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


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
 

Soggy in NOLA

Diamond Member
Joined
Jul 31, 2009
Messages
40,569
Reaction score
5,353
Points
1,830
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.
 

ihopehefails

VIP Member
Joined
Oct 3, 2009
Messages
3,384
Reaction score
228
Points
83
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

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

I'm kind of curious what good it does if the entire country's net worth goes up but mine goes down. How did that help me?
 

Soggy in NOLA

Diamond Member
Joined
Jul 31, 2009
Messages
40,569
Reaction score
5,353
Points
1,830
Anyhoo... didn't Reid declare the great news that only 36,000 people lost their jobs?

I wonder if he polled the 36,000 to get their reaction to the good news?
 

Soggy in NOLA

Diamond Member
Joined
Jul 31, 2009
Messages
40,569
Reaction score
5,353
Points
1,830
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

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

I'm kind of curious what good it does if the entire country's net worth goes up but mine goes down. How did that help me?

Stop asking questions and thank your leader for all his benevolence!!!!
 

Xenophon

Gone and forgotten
Joined
Nov 27, 2008
Messages
16,705
Reaction score
3,927
Points
48
Location
In your head
Leave it to the Barry lovers to annouce that the rich getting richer is 'good news.' :lol:
 

Soggy in NOLA

Diamond Member
Joined
Jul 31, 2009
Messages
40,569
Reaction score
5,353
Points
1,830
Leave it to the Barry lovers to annouce that the rich getting richer is 'good news.' :lol:

Up is down and down is up!!!

Didn't you hear?

Oh, and didn't Obama declare that the markets "didn't matter" when asked about their tanking?
 

Oldandtired

Rookie
Joined
Aug 17, 2009
Messages
3,618
Reaction score
349
Points
0
Location
Long Island
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

Funny thing...When Obama started his "are you better off now than you were 8 years ago" thingy....I looked at myself and said "hell yeah, much better off now than 8 years ago"

But when I approached those that were mesmerized by him, they would say "hell no...I am much worse off now than I was 8 years ago"..

And when I pressed them to describe their income, networth and status of 8 years ago to what it is now...they would sit there with a dumb look on their face....and more often than not respond with crap like "you dont like Obama becuase he is black"...and "why do you hate poor people"...

But they never would answer the question. Why? Becuase they realized... 'dam, I really am better off now than I was 8 years ago...I just cant admit it'.
 
OP
rightwinger

rightwinger

Award Winning USMB Paid Messageboard Poster
Gold Supporting Member
Joined
Aug 4, 2009
Messages
222,345
Reaction score
48,127
Points
2,190
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

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

I'm kind of curious what good it does if the entire country's net worth goes up but mine goes down. How did that help me?

Lose $18 trillion in last years of Bush= ECONOMIC BAD NEWS

Regain $6 trillion since Obama has been president= ECONOMIC GOOD NEWS

Hows that Hopey/Changey thing working for ya???
 

Most reactions - Past 7 days

Forum List

Top