The Dow lost 6.0% in the first quarter of 1982 but lost 19.1% in the 4th qtr of 2008. Home values continued to rise rapidly in the 1st qtr of 1982 but plunged in the 4th qtr of 2008. As a result, the net worth of households continued its decades-long rise in the 1st qtr of 1982 but household net worth plunged in the 4th qtr of 2008 for the 5th consecutive qtr. (The Federal Reserve reports on March 12 will show the plunge.) |
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At www.ourfuture.org
OpedNews volunteer from 2005 to 2013.
Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.