Two views of the situation. First,
cartoonist Tom Toles of the Washington Post:
 |
| I'm Chip Diller and I approve this message |
Then, there's Constantine von Hoffman,
writing for CBS Moneywatch:
Increasing housing prices and the stock market''s posting all-time highs haven't helped the plight most Americans. The average U.S. household has recovered only 45 percent of the wealth they lost during the recession, according to a report released yesterday from the Federal Reserve Bank of St. Louis.
This finding is a very different picture than one painted in a report earlier this year by the Fed that calculated Americans as a whole had regained 91 percent of their losses. The writers of the report released yesterday point out that the earlier number is based on aggregate household-net-worth data. However, this isn't adjusted for inflation, population growth or the nature of the wealth. Further, they say much of recovery in net worth is because of the stock market, which means most of the improvement has been a boon only to wealthy families.
Discuss.
5 comments:
hahaha...
i'm not seeing any recovery here among my peers.
nope.
not at all...
If the economy is supposed to be the good news, ol Tom Toles must be desperate.
What WB says. The economy is only "good" if you ignore the difference between government unemployment and honest unemployment numbers, and if you ignore the huge default rates on student loans, SBA loans.......and the ongoing collapse of Obama's "green" initiatives.
whatever... dudes...
i measure the economy as to how many new or later model cars inhabit the lot at the mill i work in.
currently... very few.
and those few tend to be Korean cars.
You mean it's not full of Teslas, Gino?
Shocked. Just shocked.
Post a Comment