Fed: Americans’ wealth dropped 40 percent

story from The Washington Post
By Ylan Q. Mui, Updated: Monday, June 11, 11:18 AM

Fed: Americans’ wealth dropped 40 percent
The Federal Reserve has conducted a survey of family wealth.
They do this every three years.

The net worth of the American family has fallen to its lowest level in two decades, according to government data released Monday, driven by a more than 40 percent drop in their stakes in their homes.

The Federal Reserve’s detailed survey of consumer finances showed families’ median wealth plunged from $126,400 in 2007 to $77,300 in 2010 — a 39 percent decline. That put them on par with median wealth in 1992.

POW !!

I wonder how many votes this will cost Obama ?

The Fed’s data underscore the depth of the wounds of the Great Recession and how far many families remain from healing. The median value of Americans’ debt did not change between 2007 and 2010. Meanwhile, the housing market crash inflicted particularly severe damage, with the Fed showing that the median value of Americans’ equity in their homes plunged 42.3 percent between 2007 and 2010.

What about that "stimulus" again ?

T minus 148

The Federal Reserve’s detailed survey of consumer finances showed families’ median wealth plunged from $126,400 in 2007 to $77,300 in 2010 — a 39 percent decline. That put them on par with median wealth in 1992.

Maybe the Fed should stop printing so much damn money thatdevalues that "family wealth" and how bout increasing the rates so that financial instruments can rise, and then those "familys' who invest can get an increased return on them.

By that I mean Checking,Savings,Money Markets that earn interest and made middle class rich, like they use to back in the day.

The only thing the Federal Reserve theseday's is make themselves rich.

Lol thinking that the fed has the ability to change the rates from what they are now. First off if they could make the rate go lower it would be lower. But as for raising the borrowing rates, it cant it leads to a string of other problems. Which in short make bond interests go up, and that makes US debt which it pays interest on, skyrocket. They cant do that of course.

You will never in time from here on out see the rise in interest rate. A multiple trillion dollar debt, that we pay interest on, would rise with whatever increase the fed were to rise the rate at. Thus creating more national debt and worsening the sinking spiral of debt we are already in and never going to get out of. Atleast without hyper inflation, currency change, collapse etc.


but i do like the post thanks for sharing it

Well it was bound to happen wasn't it really... that's generally what happens when you give other people your industry & jobs for the minority (1%) to profit, and then let the banker rip you off when you can't pay them back that massive loan they irresponsibly lent you when you new you couldn't possibly pay it back, you lose everything they gain everything

40% will soon be 100% don't you worry about that, i think most of you are probably still not to bothered about it all tho, after all the occupy movement fell flat on its face, maybe when more fat people become skinny enough to get out there front doors we'll see something done about it?

The problem was the greeedy f**ks who sold you all out for cheaper labour in China, and now look, China will over take you in the not so distant future lol, if i was you guys id be stringing those fat cats up to the nearest lamppost for the kids who futures they destroyed to throw stones at,

Originally posted by neo96

Maybe the Fed should stop printing so much damn money thatdevalues that "family wealth" ...

what do you want the fed to do if the top 1% and the fortune 500 companies are removing all the money from circulation and not putting back into the economy.

they take money out of the economy and jam it into foreign banks to avoid american taxes.

if the fed didn't print money, we'd be all fighting for the same buck.

example, apple has 98 billion cash reserve doing absolutely nothing, besides making money for whichever bank is holding it.

that's 98 billion less that american citizens could have a chance to earn. to replace that, the fed prints more money, causing inflation and all sorts of problems.

What really tugs me the wrong way is the very real fact that for the most part it is THE FED that controls how much "wealth" (read credit) a family has....

The first thing we need in the government is more accountants and less statisticians and games theory experts.

The data and methods the FED uses to make its "pronouncements" is about as reliable as the "Miles Per Gallon" stickers you find on used cars.

Do you know that Federal Reserve is no more federal than Federal Express?
Yes, Federal Reserve is owned by private banks with very different goals than what their name masquerade makes you believe.

So what does that mean?
It means, just for starters, that every QE(Quantitative Easing) prescribed by the Fed chairman and his 'think tank' is a loan to finance their own bad debt. So a loan you think, well if they borrow money there must be interest, which somehow would constitute reparation or a fine for the incompetence that lead to the unstable banks. Dear reader, it is not they who are borrowing, You are...!!??!! The QE is a government loan that the Fed approves, and it is the tax payers who stand with the bill/have to pay the interest. Tax payers, You and me.

Hmmm...I wonder why the American people hasn't got any money...

Last but not least, some entertainment(?)
==========================================
1. The Money Masters
www.youtube.com...

2. The American Dream, -Pengarsystemet förklarat så en femåring förstår:
youtu.be...

3. Federal Reserve
youtu.be...