Study shows Big 20% Drop in U.S. Households' Net Worth:

[amborin]

'Study Shows Big Drop in Households’ Net Worth

Published: February 12, 2009

WASHINGTON (Reuters) — The collapse of United States housing and stock prices have likely pushed household net worth down by more than 20 percent in the past year, the Federal Reserve said on Thursday.

A Fed study of family finances estimates median family net worth fell by 17.8 percent while mean net worth declined by 22.7 percent.

The mean is the average, and the median is the middle value in a series of numbers.

Relative to 2004, median net worth slipped by 3.2 percent while mean net worth tumbled 12.7 percent...."

<http://www.nytimes.com/2009/02/13/business/economy/13fed.html?ref=business>

[geckosfeet]

1. They needed a study to figure this out? Oh nose - we're screwn.

[Skink]

2. They just figured out electricity deregulation in Texas has led to the highest rates in the nation.

Apparently we had to wait 10 years to find this out. Texas before deregulation enjoyed some of the lowest rates for electricity.

[Uben]

3. And who was responsible for that?

George Fucking Bush, of course!

[Avalux]

4. I'm dreading the hot months to come.

Average electric bill last summer was 350 bucks. I don't know how I am going to pay it. x(

[leftofthedial]

5. Mission Accomplished!

Brownie.