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General News 7/2/2012 at 5:49 PM EDT H3'ed 7/2/12

Headlines Blare Americans Lose 40% of Their Wealth Yet Income Decline is the Real Horror Story, by Robert Oak

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The Federal Reserve released a report, the 2010 Survey of Consumer Finances. This is a report on household wealth from 2007-2010, removing effects of inflation. No surprise, median net worth declined by 38.8% from 2007 to 2010 and is down to 1992 levels. Why this should be no surprise is due to the housing bubble and declining home values. A home is the largest asset many people have.

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I am educated engineer. My interests: human interaction in the past and present. So I like history, politics and science because I like to make my own theories.

Related Topic(s): American Exceptionalism; Consumer; Decline; Income Gap; People; Real Democracy; Reality; Wealth Concentration; Wealth Wealthy; Wealthcare, Add Tags

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