Jump to content




Welcome to Unexplained Mysteries! Please sign in or create an account to start posting and to access a host of extra features.


- - - - -

Backwards, not forwards


  • Please log in to reply
6 replies to this topic

#1    UM-Bot

UM-Bot

    News, media and articles

  • News Writer
  • 6,196 posts
  • Joined:21 Mar 2001
  • Gender:Male

  • Beep Boop

Posted 23 June 2012 - 11:01 AM

<strong class='bbc'>Image credit: sxc.hu</strong>
Image credit: sxc.hu
Phillip Tilley: In a recent report from the Federal Reserve it was noted that the median U.S. household lost 39% of its wealth from 2007 to 2010.  This means net worth slid to 1992 levels after adjusting for inflation.  That is the inflation the government admits to, not real inflation.

The report said the median family’s net worth dropped from $126,400 in 2007 to $77,300 in 2010.  It may be interesting that 77,000 in today’s money would have been worth about 10,000 in 1964, the year we stopped using real money.  So in fact there has been no real gain in American net worth since we stopped using real money in 1964.  No real growth!  We have stagnated for almost fifty years!

Posted Image View: Full Article

This is an official comment thread for a main site news story, article or video.
Please keep comments civil and on topic.
Thank you.

#2    Babe Ruth

Babe Ruth

    Non-Corporeal Being

  • Member
  • 7,871 posts
  • Joined:23 Dec 2011
  • Gender:Not Selected
  • Location:27North 80West

Posted 23 June 2012 - 01:25 PM

A good article!  Yes, the government has been using smoke & mirrors regarding inflation and unemployment for many years, at least since it removed food and energy costs from the formula used to calculate the Consumer Price Index.

The real estate bubble helped inflate 'net worth' figures 10 years ago, and now that the bubble has burst the numbers reveal the loss in middle class worth.  Yes, the rich get richer and the poor get poorer.  What's new?


#3    Sormac

Sormac

    Alien Embryo

  • Member
  • Pip
  • 33 posts
  • Joined:11 Feb 2011

Posted 24 June 2012 - 09:19 AM

So many things in this article are wrong, its really difficult to pick a place to start...

That being said, lets just start with the fact that most indicators pointed to an end of the recession occurring in summer of 2010 (not 2009). I have no clue how you draw a bridge between net worth declining between 2007 and 2010 and the US being in stagnation/depression now. My portfolio also decreased in those years, but has more than stablized and provided year over year returns jn FY11 and FY12.


#4    Oen Anderson

Oen Anderson

    Extraterrestrial Entity

  • Member
  • PipPipPip
  • 407 posts
  • Joined:20 Sep 2007
  • Gender:Male
  • Location:Montana

  • We are all individuals and we are all special in our own unique way which really makes us quite ordinary!

Posted 25 June 2012 - 04:14 AM

Sormac, if you have no clue it's because you obviously can'r read.  The article clearly states the information on the new worth decline came from the Federal Reserve.  If they say it declined they ought to know because they run the economy.  Also it was the Federal Reserve that called an end to the recession in 2009.


#5    ThickasaBrick

ThickasaBrick

    Extraterrestrial Entity

  • Member
  • PipPipPip
  • 387 posts
  • Joined:22 Jul 2005
  • Gender:Male
  • Location:USA

  • "Your wise men don't know how it feels to be thick as a brick." "I'll judge you all and make damn sure that no-one judges me."
    -Jethro Tull

Posted 28 June 2012 - 10:33 PM

No surprise. I could have told you that. Just because the Gov't says something does not make it true.


#6    Darkcore

Darkcore

    Alien Embryo

  • Member
  • Pip
  • 64 posts
  • Joined:29 Jul 2009
  • Gender:Male
  • Location:Canada

  • "What is the riddle of steel?"

Posted 13 July 2012 - 08:11 PM

Funny how Phillip Tilley used to be laught at, and now more and more are saying, "Damn! That Tilley guy was on to something, should of listened to him sooner..."

I did, 2 years ago, and I don't regret one bit. I'm still in the matrix unfortunatly, but I'm awake! Thx!


#7    Sormac

Sormac

    Alien Embryo

  • Member
  • Pip
  • 33 posts
  • Joined:11 Feb 2011

Posted 23 June 2013 - 02:48 AM

One year later... My net worth has increased.





1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users