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Family net worth plummets nearly 40%
CNNMoney via | CNNMoney

Posted on 06/11/2012 1:54:23 PM PDT by Enosh

Edited on 07/01/2012 1:40:10 AM PDT by Admin Moderator. [history]

NEW YORK (CNNMoney) — The average American family’s net worth dropped almost 40% between 2007 and 2010, according to a triennial study released Monday by the Federal Reserve.



TOPICS: Business/Economy
KEYWORDS: dncagenda; dncrico; kingofthedeficit; networth; queenofthedeficit

1 posted on 06/11/2012 1:54:28 PM PDT by Enosh
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To: Enosh

No president can get re-elected with numbers like these.


2 posted on 06/11/2012 2:02:03 PM PDT by Signalman ( November, 2012-The End of an Error)
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To: Signalman

True dat. But it will be fun to watch him try to explain why it is not so devastating.


3 posted on 06/11/2012 2:06:43 PM PDT by Wally_Kalbacken
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To: Enosh

That’s some change you can believe in.


4 posted on 06/11/2012 2:11:49 PM PDT by Trod Upon (Obama: Making the Carter malaise look good. Misery Index in 3...2...1)
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To: Signalman
Yet there's a cabal of people here who swear Romney can't be elected... A ham sandwich could beat Obummer come November.
5 posted on 06/11/2012 2:14:37 PM PDT by DB
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To: Enosh

FUBO , Data mine that you stuttering PR*CK!


6 posted on 06/11/2012 2:15:03 PM PDT by TsonicTsunami08
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To: Wally_Kalbacken
True dat. But it will be fun to watch him try to explain why it is not so devastating.

Not his fault. Bush's fault. The Greek's fault. Congress's fault. Needed to hire more union firefighters, union police and union teachers. Republicans are racists. Wouldn't let him raise taxes on all those rich white people. Can't blame Zero, he was on vacation or playing golf.

Does that cover most of it?

7 posted on 06/11/2012 2:20:16 PM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: Enosh

I’m sure the first question at Baraq’s next press conference will be about this, right?


8 posted on 06/11/2012 2:20:47 PM PDT by nascarnation
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To: Enosh

I guess nobody will mention that Democrats swept into the Congress during that time (2007 - 2010) and had a binge?

Even though I blame GWBush for not using (or threatened to use) his veto pen for part of the 2007 - 2008 time period.


9 posted on 06/11/2012 2:23:11 PM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: nascarnation

The net worth in 2007 was inflated by demand for housing created by risky lending. It was a bubble in home values.


10 posted on 06/11/2012 2:23:44 PM PDT by Oldexpat
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To: Enosh

Dummies voted for the guy because he was kinda black and could read off a moving screen. Why? To prove they could get past “color”. And besides, he was a nice guy that was “clean”.

Turns out he was just another gangster wanna be. They let him in their living room and what did Obama do? He sat down, rolled a blunt and got high. Then promptly fell asleep. When he woke up he took the family credit card and the family car. He ran the credit card up to the limit then talked the credit card company in to raising the card limit. He maxed out the card again and bought his homies all sorts of stuff. He got more weed and they hit some blunts in the family car then wrecked it. It is almost totalled and may not be repairable.

Obama is a stoner who insists he knows what is what but he does not know anything. He is really an idiot punk much like Travon Martin. A gangster bad ass wanna be that can’t dunk. He is going to be kicked out of da house!


11 posted on 06/11/2012 2:36:33 PM PDT by isthisnickcool (Sharia? No thanks!)
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To: Enosh
Much of the drop off in net worth — to levels not seen since 1992 — was attributable to a sharp decline in housing values, the Fed said.

Lets see, 1992... This means that 3 years of Obama have wiped out all gains made during 8 years of Clinton and 8 years of Bush.

12 posted on 06/11/2012 2:45:54 PM PDT by CurlyDave
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To: Signalman

With fraud and the fact that the republican party has picked a candidate that can’t get more than a few points ahead of obama in presidential polls, why yes obama can.


13 posted on 06/11/2012 2:50:39 PM PDT by hedgetrimmer
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To: Enosh

Just imagine what most Americans “Golden Years” will look like as this society ages. Right now SS accounts for the sole income for one-third of retirees and more than 50% of the incomes for two-thirds of retirees.


14 posted on 06/11/2012 3:02:47 PM PDT by kabar
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To: Enosh

The entire economy started to unravel when Dems took over Congress in 2007 and accelerated downhill with Obama’s election. The year before they took over Congress, the deficit was 150 billion. Today it is tenfold more at 1.5 trillion.


15 posted on 06/11/2012 3:07:14 PM PDT by chuckee
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To: Signalman
No president can get re-elected with numbers like these.

Wrong, Zero said the private sector is just fine and more than 50% of the population believe it. The also think he fixed the mess from President Bush.

16 posted on 06/11/2012 3:14:57 PM PDT by ProudFossil (" I never did give anyone hell. I just told the truth and they thought it was hell." Harry Truman)
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To: Enosh

Bad economy and soaring oil prices. Both bammy and the rats fault.


17 posted on 06/11/2012 4:25:30 PM PDT by vpintheak (Occupy your Brain!)
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To: Enosh
Household wealth was artificially inflated in the year 2007. It was a bubble.
18 posted on 06/11/2012 4:32:18 PM PDT by moonshot925
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To: Signalman

You are wrong!

Dem peoples hoo vote for Obama ain’t got no “net worth” in their stash.

Obama hass de big stash and he be dolen it out to their cribs.

.....Ebonics spoken here.......


19 posted on 06/11/2012 4:38:51 PM PDT by DH (Once the tainted finger of government touches anything the rot begins)
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To: Oldexpat

I agree. I live in a part of the country where the values didn’t inflate like some parts of the country. Now the median worth is more in line with reality than the pie in the sky housing bubble. What fool loans $$$ based on self certification of income?


20 posted on 06/11/2012 5:17:47 PM PDT by pepperdog (Why are Democrats Afraid of a Voter ID Law?)
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To: Enosh

Someone finally noticed??????????

LLS


21 posted on 06/11/2012 5:31:39 PM PDT by LibLieSlayer (Don't Tread On Me)
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To: chuckee

ANNUAL deficit... but we owe upwards of 80 TRILLION dollars when socialist security and medicare outyears are figured into the formula. We owe just shy of 16 Triliion in deficit when those two things are taken out of the equation... and that is just the crap the government will admit to... you know... the one that keeps saying we are at 8.2% unemployment... that government.

LLS


22 posted on 06/11/2012 5:36:14 PM PDT by LibLieSlayer (Don't Tread On Me)
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To: kabar

40% of today’s workforce that PAYS taxes will retire in the next ten years.

LLS


23 posted on 06/11/2012 5:39:03 PM PDT by LibLieSlayer (Don't Tread On Me)
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To: Enosh

GOBAMA! And don’t let the door hit you on the WAY OUT!


24 posted on 06/11/2012 5:40:01 PM PDT by nicmarlo
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To: Enosh
Not to worry. We're *fine.*


25 posted on 06/12/2012 2:49:20 AM PDT by Daffynition (Our forefathers would be shooting by now.)
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To: vpintheak

Both bammy and the rats fault.

Both bammy and the rats goal.


26 posted on 06/12/2012 4:19:19 AM PDT by Texas resident (November 6 - Vote Against obama)
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