The Typical Household, Now Worth a Third Less

[Anti Federalist]

The Typical Household, Now Worth a Third Less

http://www.nytimes.com/2014/07/27/bu...less.html?_r=0

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower.

[Southron]

But look at all the cool Chinese stuff we own now.

[helmuth_hubener]

But look at all the cool Chinese stuff we own now.

Hey, don't blame the Chinese for your problems. Man up.

[DamianTV]

Hey, don't blame the Chinese for your problems. Man up.

Thats right! Blame Canada! :P

---

This is the result of Inflation. Then think of how Govt calculates the rate of Inflation. Utilities arent factored in. Food isnt factored in. Obamacare isnt factored in. A bunch of other stuff isnt factored in. Inflation is calulated based on the price of DVD's. Yes, prices of $#@! does go up up up, but that is only half of the real problem. The problem is that the VALUE of our Fiat Currency continues to go down down down. And with the world nearly ready to ditch the Petro Dollar as its Reserve Currency, we are in deep deep doodoo. Yeah, thats my big Adult word for the day, doodoo.

(Note: Story on Front Page at this time points to this article, but it links to another Dog / Cop shooting, need a Mod to fix...)

[Anti Federalist]

But look at all the cool Chinese stuff we own now.

Fed.

Entertained.

Exercising Petty Power.

Check...

[Southron]

Hey, don't blame the Chinese for your problems. Man up.

Who is blaming the Chinese? I am merely pointing out what Americans have traded their wealth for.

[Seraphim]

Now factor in tax obligations via per capita gov't debt obligations and that total asset % plunges further.

[heavenlyboy34]

Fed.

Entertained.

Exercising Petty Power.

Check...

Idiocracy isn't just a movie...

[Ronin Truth]

Whew, thank goodness, dodged the bullet, my household has never been typical.

[Matt Collins]

But look at all the cool Chinese stuff we own now.

That doesn't make sense... China can produce good and services far cheaper than we can. By purchasing their stuff, we are actually saving money and preserving wealth. The problem is taxation, which includes the inflation tax from the Fed.

[NewRightLibertarian]

That doesn't make sense... China can produce good and services far cheaper than we can. By purchasing their stuff, we are actually saving money and preserving wealth. The problem is taxation, which includes the inflation tax from the Fed.

I think he was making the point that we've been bought off by Chinese slave made crap, not necessarily arguing for protectionism.

[buenijo]

Good comment from the study linked: “The housing bubble basically hid a trend of declining financial wealth at the median that began in 2001.”

Misdirection from a distorted price structure leads to bad decisions that finally consume capital and destroy wealth.

[Anti Federalist]

That doesn't make sense... China can produce good and services far cheaper than we can. By purchasing their stuff, we are actually saving money and preserving wealth. The problem is taxation, which includes the inflation tax from the Fed.

That is, along with the housing bubble, what has hid declining wealth for 40 years now.

But at some point in time, you start to reach diminishing returns on that plan.

Wages and income start to fall off a cliff, spending slows down, and the race to the bottom starts.

With over half the households in the US receiving some form of government subsidy, and the lowest labor participation rate in 40 years, that's where we are at.

[Southron]

That doesn't make sense... China can produce good and services far cheaper than we can. By purchasing their stuff, we are actually saving money and preserving wealth. The problem is taxation, which includes the inflation tax from the Fed.

If taxation is the problem then I guess the Republicans will save us because they are for lower taxes right?

[phill4paul]

That is, along with the housing bubble, what has hid declining wealth for 40 years now.

But at some point in time, you start to reach diminishing returns on that plan.

Wages and income start to fall off a cliff, spending slows down, and race to the bottom starts.

With over half the households in the US receiving some form of government subsidy, and the lowest labor participation rate in 40 years, that's where we at.

[LibForestPaul]

That is, along with the housing bubble, what has hid declining wealth for 40 years now.

But at some point in time, you start to reach diminishing returns on that plan.

Wages and income start to fall off a cliff, spending slows down, and race to the bottom starts.

With over half the households in the US receiving some form of government subsidy, and the lowest labor participation rate in 40 years, that's where we at.

Wonder how all the government parasites with their forty year guaranteed pensions are doing?

[HOLLYWOOD]

One More Time...

[Anti Federalist]

Wonder how all the government parasites with their forty year guaranteed pensions are doing?

They'll be fine, until the system falls apart.

Then, like Soviet pensioners in the 90s, they will, most likely, die.

[buenijo]

Good comment from the study linked: “The housing bubble basically hid a trend of declining financial wealth at the median that began in 2001.”

A good question: What the hell is "financial wealth"? Why qualify wealth in any particular way? Maybe this began in an intuitive way as people perceived a growing disconnect between the nominal value of financial instruments and the real world value of the underlying capital from which the value of the financial instrument is derived. These financial derivatives are increasingly disconnected from the underlying capital (the real wealth) - that is, they are increasingly disconnected from reality.

[Carson]

But look at all the cool Chinese stuff we own now.

Do we own it? Or are the bills still due?

[Brian4Liberty]

Fed.

Entertained.

Exercising Petty Power.

Check...

Bread and circuses have become pink slime burgers and flat screen idiot boxes. Mundanes have never had it so good. Be thankful, before you get a thumpin'.

[Origanalist]

Bread and circuses have become pink slime burgers and flat screen idiot boxes. Mundanes have never had it so good. Be thankful, before you get a thumpin'.

///

[thoughtomator]

If you had nothing ten years ago, and you have nothing now, you've done 33% better than the median...

[Danke]

[oyarde]

If you had nothing ten years ago, and you have nothing now, you've done 33% better than the median...

I Guess that means I am ok , LOL

[oyarde]

Bread and circuses have become pink slime burgers and flat screen idiot boxes. Mundanes have never had it so good. Be thankful, before you get a thumpin'.

None of that for me , but thanks anyway B.

[oyarde]

But look at all the cool Chinese stuff we own now.

I can get by without much of that....

[Matt Collins]

If you had nothing ten years ago, and you have nothing now, you've done 33% better than the median...

woah... that hit me like a ton of bricks.... I guess I should be thankful then

[oyarde]

This should have been left in General Pol for the masses .

[oyarde]

woah... that hit me like a ton of bricks.... I guess I should be thankful then

Yeah , been happening to me for decades, you get used to it .