Sent to me by my dad: "Slowly, Americans are regaining their lost wealth"

[Mike 03]

Excerpt:

WASHINGTON – Americans are recovering their shrunken wealth — gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight. And it was less than in the previous two quarters.

The Federal Reserve said Thursday that net worth rose 1.3 percent in the fourth quarter to $54.2 trillion. It marked the third straight quarter of gains. But economists say consumers would need a stronger and more prolonged increase in their wealth to persuade them to ratchet up spending.

Net worth had risen by a more robust 4.5 percent in the second quarter of 2009 and an even faster 5.5 percent in the third quarter. Net worth is the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards.

More Here:

http://news.yahoo.com/s/ap/20100311/ap_on_bi_go_ec_fi/us_net_worth

My Comment:

I hope this is true, and I hope the recovery is affecting those who need it most.

[Warpy]

1. At that rate, the numbers will be back in 20 years or so

Meanwhile, inflation in everything else marches on and we can forget ever having the same net worth in terms of purchasing power.

[kestrel91316]

5. 11.3% in 9 months is a little better than that. Annualized, it's about 16% in a year.

Regaining everything in SIX YEARS. Pretty great, if you ask me.

Great for those with assets to appreciate. For those of us without, not so great. Though my practice value will probably come up some.......

[HillbillyBob]

2. Still looks like the S O S from here

Many of us have no investments nor any thing left over to save let alone invest we just keep seeing our 'real' income dwindle.

[conscious evolution]

3. How much of that rise

is found amongst the top 1%.
The fact that this comes from the federal reserve make me wonder if its propoganda on their part.

[enid602]

4. ding, ding, ding!!!!!!!

spot on

[DBoon]

9. Of course, You are talking about wealth here

It is a foregone conclusion that possession of wealth (assets) is seriously unequal

[ddeclue]

11. propAganda not propOganda..

signed the spelling police..

:D

[Zoeisright]

18. [phone]

Exactly. The top 1% skew everything.

[Kievan Rus]

21. Yup

[Walk away]

6. The rich get richer. n/t

[Mike 03]

7. Thanks, this is good to know. He has terminal cancer, so I wanted to get the opinions of

others.

[Mike 03]

8. Thank you for your input.

[ddeclue]

10. WHICH Americans? I love misleading crap like this...

average Americans are still losing wealth.. a few rich bankers got richer thanks to our tax dollars bailing their asses out and it has been proclaimed a Festivus miracle - "our" wealth is increasing.. :eyes:

[glowing]

13. Exactly.. most people I know are still losing jobs, hours, taking pay cuts, or

stuck with the same wages while inflation and ins. premiums continue on up. The rich stole and we lost more. Honestly, when is it time to get out the torches and pitchforks?

[ddeclue]

15. I can't afford the pitch oil, rags or the matches for my torch any more..

and I had to pawn the pitchfork to make the rent...

:rofl:

[glowing]

22. Isn't that the truth. Maybe when people can't afford cable anymore, then they'll be ready.

[Swamp Rat]

12. Hooray for the billionaires!

[ddeclue]

16. EXCELLENT ART WORK!

Did you do that?

Do you do campaign work - mailers, etc?

Send me a private message w your contact info and what you can do..

[Swamp Rat]

19. Yes

I only create art for catharsis and fun. ;)

[ddeclue]

20. It's amazing.. if you aren't doing it for a living you should be..

[Turbineguy]

14. If I'm back to where I was in 20 years

I'll be very happy. Not the least because I survived.

[NYC_SKP]

17. What is this thing, this "stock portfolio"?

Is it used to store artwork or lithographs?

And they get boosted?

Curious, these "stock portfolios".

I must remember to ask the next average American to show me theirs.

:shrug: