Posted on 07/29/2014 5:31:48 AM PDT by SeekAndFind
Finally, the change in net worth has made the mainstream media. The statistics, as reported in the NY Times, are horrific, as are the implications for the future of the country.
Net worth may be the best single measure of a country's well-being. Median net worth is a reasonable marker for the standard of living. Medians (or averages) are not good measures to capture what is happening at the lowest or highest ends. (More about that below.)
In the simplest terms, net worth is the value of a person's assets minus his liabilities. If this measure is growing, a person is becoming better off. If it is shrinking then that person is becoming worse off, at least in terms of wealth.
Shocking Drop in Net Worth
Conditions economically (and politically) may be getting so indefensible that even the NY Times feels compelled to report them
(Excerpt) Read more at americanthinker.com ...
Correct.
I am glad someone understands where all this leads.
yes, on purpose, as opposed to incompetence....
Americans must remember that even though our standard of living is being destroyed, it is being done “for the children”. After all the democrats have told us everything they do is “for the children”; though should be evident by now to all Americans, what the democrats do is not “for the children” of Americans.
when people are in need of govt assistance... which party do they generally vote for?
if a political party can gain power by reducing your self reliance... thereby increasing your need for govt assistance... while blaming the other party, do you think they would deliberately hurt the little guy, financially, to obtain it?
And dependency leads to serfdom and slavery. The cycle of history is turning on the US and the backside of the slide is going to be brutal on the US and the world that relied upon it for stability. Obama’s mission in life is to bring down the US and advance the blood cult of Islam and he is doing a bangup job with the participation of useful idiots.
Before long, they might be reporting the “median” number of Americans who haven’t died from poverty and disease instead of including the dead for an overall average.
I took an assessment of my family recently and pointed the same thing out to my wife. Her two adult kids are, even with our help, living just above the grasp of poverty. The outlook for the grand kids at this trajectory is woeful. Our resources are up a tad over the past ten years but in constant dollars, they are down albeit we are still in the upper quartile. We are not pulling away rather the bottom is falling fast IMO. Part of this is the very low interest rates supported by the fed: it has led to zero income on fixed investments and a dramatic drop in the dollar and by extention purchasing power.
Where does this all lead? Well, I probably will not be here to see it due to age but for those under 50 I would expect a giant upheaval in the future and it is not going to be pretty. IMO having had some degree of wealth and having seen it evaporate is much different than never having had any at all. Those foisted far below the relatively comfortable life they enjoyed will be the ones most willing to strke out. My advice, arm up if you have not done so yet.
I didn’t go to the link, but I’ll guess that the Times thinks it’s because “Rich people have far too much money”.
High taxes, zero interest rates, government red tape causing high energy and food prices are crippling. What happens when everyone is on assistance?
When Democrats parrot equality, I bet you didn’t think they meant they wanted all of us to be equally destitute.
The politicians in Washington are destroying the middle class on purpose.
If you had told me 20 years ago that I'd be earning what I'm earning right now, I'd say, "Probably. I work hard, have a degree, and so on.". However, if you had told me that I'd be earning what I'm earning - AND - cutting all the fat out of the budget, cutting coupons, shopping consignment sales, and so on just to stay afloat.....I'd have told you that you were crazy.
My $0.02? Next 4-6 years will tell the tale. If an administration is elected who will make some hard decisions, we face an ugly few years....but only a few. Basically, "Hit Rock bottom, then start to recover". Think "America, Circa the late 70s, early 80s".
However, if we get more of the same (I'm thinking Hillary and a more-or-less ineffective House and Senate) things will actually probably be *better* in the short term. They'll spend stupid amounts of money trying to prop things up, but the downward skid that we're on will continue. We'll be so far in the hole that when we hit bottom, there won't be any recovering. Think "the UK, circa right now".
Just my opinion. 'Tisn't worth any more or less than anyone else's.
Government is destroying America.
Thought you all might find this of interest. Long but worth the read.
Is There A “Back Door” Method For The Government To Pay Down The Federal Debt Using Private Savings?
http://danielamerman.com/va/Repression.html
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