Tuesday, June 12, 2012

Who you gonna vote for?

The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992.



    I often wonder if, in the determination of NW, it's taken into account that, on the liability side of the equation, the per capita citizen portion of the National Debt* is $50,287 and the per capita tax payer's is $138,684. About 1/3 of this debt has accumulated under our current Fraud-in-Chief in <4 years! If these numbers aren't normally included in the calculation of NW I wonder what the median family NW of $77,300 would really be?

    *By the time anyone reads this the amounts will be higher

  2. "Net Worth" needs to be changed to "Net Debt", because of exactly what Jon pointed out above.

    We need to TURN THIS SHIP AROUND, or face the same outcome as Greece...

  3. "We need to TURN THIS SHIP AROUND, or face the same outcome as Greece..."

    You bet that we need to "TURN THIS SHIP AROUND". Ironically, however, it may be more difficult to turn around the American Economy,(think an Aircraft Carrier) than the Greek Economy (think a PT Boat). It's time (past time) for a [new] Captian and Quatermaster to execute a 'full RIGHT rudder'!


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