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, 2009WASHINGTON (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?
The “Question” is: Are you better off “now” than you were when Bush was in office?
You certainly are if you’re a terrorist, hate our country or collect welfare….
[robot] Bush’s fault. Obama is savior [/robot]
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.
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.
@ 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.