More Economic GOOD NEWS: Americans Net Worth UP 1.3%

[CMike]

Actually my income has gone up 12 times in the last two years, but hit had nothing to do with Obama.

 

[PatekPhilippe]

So America regains 6 trillion dollars of lost wealth but AMERICANS only gained 1.3%.....
Hmmmmm...lost 18 trillion...gained 6 trillion...that sounds like 33%

1.3% of 18 trillion divided by 300 million Americans....628 dollars each...
Bwa ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

You dumb ass...since when is receiving your tax return considered "great economic news" and directly attributed to the stimulus? Another sucker has swallowed the hook, line and sinker!!!! Congrats rightwinger...you've been duped again.

You scoff at $6 trillion?

Math must not be your best subject

1.3% was just last quarter of 2009 which combined with 4.5% and 5.5% in the second and third quarters for a total of 11.3%

A $6 trillion increase in personal wealth equates to $20,000 per American not $628

Tell that to the 15 million people who are unemployed right now dumb ass....I'm sure they'll run right out and spend that 20,000 dollars OF FUCKING MONOPOLY MONEY YOU JUST GAVE THEM!

 

[rightwinger]

So America regains 6 trillion dollars of lost wealth but AMERICANS only gained 1.3%.....
Hmmmmm...lost 18 trillion...gained 6 trillion...that sounds like 33%

1.3% of 18 trillion divided by 300 million Americans....628 dollars each...
Bwa ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

You dumb ass...since when is receiving your tax return considered "great economic news" and directly attributed to the stimulus? Another sucker has swallowed the hook, line and sinker!!!! Congrats rightwinger...you've been duped again.

You scoff at $6 trillion?

Math must not be your best subject

1.3% was just last quarter of 2009 which combined with 4.5% and 5.5% in the second and third quarters for a total of 11.3%

A $6 trillion increase in personal wealth equates to $20,000 per American not $628

Tell that to the 15 million people who are unemployed right now dumb ass....I'm sure they'll run right out and spend that 20,000 dollars OF FUCKING MONOPOLY MONEY YOU JUST GAVE THEM!

Once again you digress in your attempts at a straw man

That $6 trillion in increased wealth is the composite for ALL Americans. Some made lots of money, some made a little money, some made no money and some lost money.

The end result was a NET INCREASE in personal wealth of $6 trillion

MORE ECONOMIC GOOD NEWS

but

BAD NEWS for those hoping for the country to fail (right ihopehefails?)

 

[PatekPhilippe]

You scoff at $6 trillion?

Math must not be your best subject

1.3% was just last quarter of 2009 which combined with 4.5% and 5.5% in the second and third quarters for a total of 11.3%

A $6 trillion increase in personal wealth equates to $20,000 per American not $628

Tell that to the 15 million people who are unemployed right now dumb ass....I'm sure they'll run right out and spend that 20,000 dollars OF FUCKING MONOPOLY MONEY YOU JUST GAVE THEM!

Once again you digress in your attempts at a straw man

That $6 trillion in increased wealth is the composite for ALL Americans. Some made lots of money, some made a little money, some made no money and some lost money.

The end result was a NET INCREASE in personal wealth of $6 trillion

MORE ECONOMIC GOOD NEWS

but

BAD NEWS for those hoping for the country to fail (right ihopehefails?)

Like I said...go down to the local unemployment office and herald in the good news. Let me know when you're going so I can call the Coroner to pick up your body.

 

[rightwinger]

Logic escapes Right Winger. I'm almost positive the millions upon millions losing homes and jobs saw a significant increase in net worth.

The term "clueless" always comes to the forefront when I see Right Wingers viewpoint.

Once again the numbers show you lie

I posted a link and you didn't

Net worth is the value of houses, investments, retirement and posessions minus personal debt

An increase of $6 trillion is nothing to scoff at and is ECONOMIC GOOD NEWS for all true Americans

Of course, disgruntled Americans like Titanic Sailor root for the demise of our country

 

[rightwinger]

Growth in stock portfolios delivered the biggest lift to net worth in the October-to-December period. The value of stocks rose by nearly 4% to $7.7 trillion. Higher home prices helped a bit. The value of real-estate holdings edged up 0.2%.
During the recession, which began in December 2007, household net worth plunged as low as $48.5 trillion in the first quarter of 2009. Stock holdings and home values nose-dived. As their net worth evaporated, Americans felt less inclined to spend.

For all of last year, consumer spending dropped 0.6%. This year, as wealth, the economy and financial conditions slowly recover, consumer spending is projected to grow around 2.2%, according to the National Association for Business Economics.

 

[Titanic Sailor]

OK, whatever, adios.

I can only handle stupid for so long, and it's time to move on.

 

[boedicca]

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??

It has nothing to do with Hopey/Changey and everything to do with the markets bottoming out in March 2009, and market recovery since then.

Yes, certain MegaCorps stock prices are doing well due to the prospect of sucking up taxpayer money doled out by Obama and the Congressional Dems, as well as new regulations to prevent smaller competitors from growing. It's always convenient stub out the growth of the nimble competition.

You can call it what ever you want, but the Hopey part certainly doesn' apply - and the Change is not desirable for either Liberty or healthy economic growth (and jobs).

 

[rightwinger]

Logic escapes Right Winger. I'm almost positive the millions upon millions losing homes and jobs saw a significant increase in net worth.

The term "clueless" always comes to the forefront when I see Right Wingers viewpoint.

Have problems dealing with facts Titanic?

Foreclosures lowest in 4 years
Foreclosure rates up by smallest amount in 4 years - USATODAY.com

That looks like MORE ECONOMIC GOOD NEWS!

Maybe I need to start another thread

 

[boedicca]

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.

Actually, you're the pigeon the looters want to pluck and roast for din-din.



Likewise, my mortgage is fixed (4.75%), and it's the only debt I carry. Ditto on the balanced portfolio, which has done very well over the past decade, despite the overall market performance.

I expect to be rewarded by being completely means tested out of SS someday.

 

[boedicca]

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???

Wow. Talk about historic and economic illiteracy.

The wealth destruction during the Aughts (the decade of 2000-2009 - aside, I do think the decade was screwed from the beginning because of its horrible nickname) was due to the DotCom/Y2K/Telecom Crash (have you heard of it?) and the aftermath of 9/11 (have you heard of it)?

Google up what happened to the markets after 9/11. No President could have prevented the subsequent ugliness, especially with the tsunami of the still quaking tech crash. The 2007 market correction is the logical result of years and years and years of expanding the money supply; money is always in search of an asset. In this case, the asset play was mortgages and derivates. Thank the Clinton Adminstration for putting this one into play via the CRA.

It wasn't Bush (or any President's job) to manage stock market returns. The job is to defend the country and The Constitution so that The People conduct our private lives and businesses unmolested by foreign threats or those who wish to transgress our rights.

If you'd really like to understand the macro game, I suggest you read "The Creature from Jekyll Island".

 

[CrusaderFrank]

Growth in stock portfolios delivered the biggest lift to net worth in the October-to-December period. The value of stocks rose by nearly 4% to $7.7 trillion. Higher home prices helped a bit. The value of real-estate holdings edged up 0.2%.
During the recession, which began in December 2007, household net worth plunged as low as $48.5 trillion in the first quarter of 2009. Stock holdings and home values nose-dived. As their net worth evaporated, Americans felt less inclined to spend.

For all of last year, consumer spending dropped 0.6%. This year, as wealth, the economy and financial conditions slowly recover, consumer spending is projected to grow around 2.2%, according to the National Association for Business Economics.

OK, so you support Bush's effort to allow people to invest a portion of their Soc Security in US equities.

Better late than never

 

[Toro]

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.

I assume you are or will be getting massively short then?

 

[rightwinger]

Growth in stock portfolios delivered the biggest lift to net worth in the October-to-December period. The value of stocks rose by nearly 4% to $7.7 trillion. Higher home prices helped a bit. The value of real-estate holdings edged up 0.2%.
During the recession, which began in December 2007, household net worth plunged as low as $48.5 trillion in the first quarter of 2009. Stock holdings and home values nose-dived. As their net worth evaporated, Americans felt less inclined to spend.

For all of last year, consumer spending dropped 0.6%. This year, as wealth, the economy and financial conditions slowly recover, consumer spending is projected to grow around 2.2%, according to the National Association for Business Economics.

OK, so you support Bush's effort to allow people to invest a portion of their Soc Security in US equities.

Better late than never

I personally don't give a shit as long as people don't whine if they lose their retirement fund.
Most retirees already have a major portion of their retirements in 401K type investments. The old company pension program has been replaced by the company supported 401K. I think most retirees are better off having a fixed income guaranteed pension like social security which is supplemented by a 401K....best of both worlds and not as big a risk

 

[skookerasbil]

Budget deficit sets record in February
By MARTIN CRUTSINGER (AP) – 1 day ago

WASHINGTON — The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year.

The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.

The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.

The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year's $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country thrree straight years of $1 trillion-plus deficits.

The administration says the huge deficits are necessary to get the country out of the deepest recession since the 1930s. But Republicans have attacked the stimulus spending as wasteful and a failure at the primary objective of lowering unemployment.








Ooooooooooooooops!!!!!!!



Yo Right Winger...............its uncanny how many times I come in here for a cup of coffee and you got some k00k lefty rant thread posted up and I come in and blow the sh!t up!!!


s0n............this is like putting up a post making a big celebration about a guy running a marathon who's just reached teh one mile marker!!!

 

[rightwinger]

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???

Wow. Talk about historic and economic illiteracy.

The wealth destruction during the Aughts (the decade of 2000-2009 - aside, I do think the decade was screwed from the beginning because of its horrible nickname) was due to the DotCom/Y2K/Telecom Crash (have you heard of it?) and the aftermath of 9/11 (have you heard of it)?

Google up what happened to the markets after 9/11. No President could have prevented the subsequent ugliness, especially with the tsunami of the still quaking tech crash. The 2007 market correction is the logical result of years and years and years of expanding the money supply; money is always in search of an asset. In this case, the asset play was mortgages and derivates. Thank the Clinton Adminstration for putting this one into play via the CRA.

It wasn't Bush (or any President's job) to manage stock market returns. The job is to defend the country and The Constitution so that The People conduct our private lives and businesses unmolested by foreign threats or those who wish to transgress our rights.

If you'd really like to understand the macro game, I suggest you read "The Creature from Jekyll Island".

You are obviously unable to distinguish the years 2000-2005 from the years 2006-2009.
After 9-11, the Market predictably tanked and then recovered once the situation settled. The market actually flourished at this point.
Starting in 2006 the signs of an impending collapse were showing. Not entirely Bush's fault, but his huge deficits, two wars and a tax cut did not help the economy. His initial "hands off" approach also helped turn a predictable recession into a near total Depression. It was not till the final months of his presidency that he started to make the right moves with TARP

 

[CMike]

Budget deficit sets record in February
By MARTIN CRUTSINGER (AP) – 1 day ago

WASHINGTON — The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year.

The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.

The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.

The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year's $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country thrree straight years of $1 trillion-plus deficits.

The administration says the huge deficits are necessary to get the country out of the deepest recession since the 1930s. But Republicans have attacked the stimulus spending as wasteful and a failure at the primary objective of lowering unemployment.








Ooooooooooooooops!!!!!!!

It must be due to the weather

 

[skookerasbil]

 

[CMike]

Logic escapes Right Winger. I'm almost positive the millions upon millions losing homes and jobs saw a significant increase in net worth.

The term "clueless" always comes to the forefront when I see Right Wingers viewpoint.

Have problems dealing with facts Titanic?

Foreclosures lowest in 4 years
Foreclosure rates up by smallest amount in 4 years - USATODAY.com

That looks like MORE ECONOMIC GOOD NEWS!

Maybe I need to start another thread

No foreclosures going up is actually bad.

 

[rightwinger]

Logic escapes Right Winger. I'm almost positive the millions upon millions losing homes and jobs saw a significant increase in net worth.

The term "clueless" always comes to the forefront when I see Right Wingers viewpoint.

Have problems dealing with facts Titanic?

Foreclosures lowest in 4 years
Foreclosure rates up by smallest amount in 4 years - USATODAY.com

That looks like MORE ECONOMIC GOOD NEWS!

Maybe I need to start another thread

No foreclosures going up is actually bad.

So is this recession which is the worst in 70 years. The facts that foreclosures are at their lowest point in four years (which is pre-recession) is GOOD NEWS