11
Jun

American’s Net Worth Shrinks $1.33 Trillion in First Quarter

Posted by: Mike's America @ 11:38 am in Uncategorized  | 1 views

Meanwhile, Barack and Michelle continue to party like it’s 1999!

Americans’ net worth shrinks $1.33 trillion in 1Q
By JEANNINE AVERSA
AP
June 11, 2009

WASHINGTON (AP) – American households lost $1.33 trillion of their wealth in the first three months of the year as the recession took a bite out of stock portfolios and dragged down home prices.

The Federal Reserve reported Thursday that household net worth fell to $50.38 trillion in the January-March quarter, the lowest level since the third quarter of 2004. The first-quarter figure marked a decline of 2.6 percent, or $1.33 trillion, from the final quarter of 2008.

Net worth represents total assets such as homes and checking accounts, minus liabilities like mortgages and credit card debt.

How’s that for hope and change?

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This entry was posted on Thursday, June 11th, 2009 at 11:38 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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6 comments so far

Dc
 1Reply to this comment  

The “Question” is: Are you better off “now” than you were when Bush was in office?

June 11th, 2009 at 11:51 am
KZnextzone
 2Reply to this comment  

You certainly are if you’re a terrorist, hate our country or collect welfare….

June 11th, 2009 at 12:17 pm
liam09
 3Reply to this comment  

[robot] Bush’s fault. Obama is savior [/robot]

June 11th, 2009 at 1:26 pm
yonason
 4Reply to this comment  

I stopped reading TownHall a long time ago because of Buchanan’s prominence there. I just took a look at one of their articles for the first time in quiet a while, and am wondering if it isn’t a joke.

Jillian Bandes :: U.S. Chamber to Bring Back Capitalism

Congress is going to use stinkulus funds to combat the effects of the stinkulus? Say WHAT?!

Free trade and healthy competition is instinctive to intelligent and innovative people, who don’t need to be taught what they already know, and certainly not by a bunch of clowns who can’t even balance a budget, let alone run a successful business. It’s such a convoluted and idiotic notion, it could only be concocted by Lefties. It’s just a smoke screen to keep people busy while they are being fleeced.

They are busy putting in place the most anti-capitalistic legislation America has ever seen, and then telling us to be capitalists. It’s like put a person in prison, and then telling him to act free.

Now, it is no surprise that a Democrat Congress would come up with something so lame. But a “conservative” mag praising them for it? More proof I was right to discontinue reading that nonsense.

June 11th, 2009 at 9:38 pm
BackwardsBoy
 5Reply to this comment  

If this one statistic isn’t enough to awaken the country to the damage that Obama is inflicting on us, then our country is in very deep trouble. Maybe, when folks drive past the padlocked, empty lots of formerly successful car dealerships, this will start to sink in.

June 12th, 2009 at 7:04 am
ditto
 6Reply to this comment  

@ Yonason

Correction via my point of view: Open fair trade “and healthy competition is instinctive to intelligent and innovative people…” A too libertarian stance towards business can also be bad.

June 14th, 2009 at 12:47 pm

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