So how's that recovery workin for ya?

The legacy of 8 years of George Monkey Bush and his "War on Americans
(tm)" continues to just keep on giving.

In other news:

America's working mothers are now the primary breadwinners in
a record 40 percent of households with children -- a milestone
in the changing face of modern families, up from just 11
percent in 1960.

The findings by the Pew Research Center, released Wednesday,
highlight the growing influence of "breadwinner moms" who keep
their families afloat financially. While most are headed by
single mothers, a growing number are families with married
mothers who bring in more income than their husbands.

The american male. Being replaced by females. It's the american way.

============================================
MoneyWatch/ May 31, 2013, 12:07 PM

Wealth of most Americans down 55% since recession

(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.

"Clearly, the 91 percent recovery of wealth losses portrayed by the
aggregate nominal measure paints a different picture than the 45 percent
recovery of wealth losses indicated by the average inflation-adjusted
household measure," the report said. "Considering the uneven recovery of
wealth across households, a conclusion that the financial damage of the
crisis and recession largely has been repaired is not justified," the
researchers said.

Household wealth plunged $16 trillion from the top of the real estate
bubble in the third quarter of 2007 to the bottom of the bust in the
first quarter of 2009. By the last three months of 2012, American
households as a group had regained $14.7 trillion.

The report says almost two-thirds of the increase in aggregate household
wealth is due to rising stock prices. This has disproportionately
benefited the richest households: About 80 percent of stocks are held by
the wealthiest 10 percent of the population.

Much of the total wealth of middle- and lower-income households is based
on home values, not stocks. Even though home prices have increased
nearly 11 percent in the past year, they remain about 30 percent below
their peak.

While Americans continue to pay down their debt, the report says debt
levels and problems with rebuilding net worth are the main reasons the
recovery has been so slow. Also, the people who bore the brunt of the
recession through job losses and reduced income were the ones who had
borrowed the most.

The report found that members of the households that suffered the most
financially were less educated, relatively young or black or Hispanic,
or some combination of these factors. Those families tended to have low
savings and high debt, with much of their wealth based on housing.

The poorest households have felt the sharpest losses as a consequence of
the recession: "While many Americans lost wealth during the Great
Recession, younger, less-educated and nonwhite families lost the
greatest percentage of their wealth," James Bullard, president of the
St. Louis Fed, said in a statement. "Household deleveraging, or paying
down debt, has played a key role in the recent recession and the slow
recovery."

Larry Kudlow wrote in :

So how's that recovery workin for ya?



Personally, pretty good the past couple of years except for one thing -
idiots with low IQ's with nothing to do posting OT stuff on NGs.

How's things in the low IQ arena?

On Sat, 1 Jun 2013 20:19:13 +0000 (UTC), Red Green
wrote:

How's things in the low IQ arena?

Canada = 1

USA = 0

On Sat, 01 Jun 2013 15:15:04 -0400, Larry Kudlow
wrote:

So how's that recovery workin for ya?

Great. Made more money last year than I ever made, this year even
more.




America's working mothers are now the primary breadwinners in
a record 40 percent of households with children -- a milestone
in the changing face of modern families, up from just 11
percent in 1960.


This has much to do with the divorce rate, little to do with economic
recovery. You should start another thread on that.



..

============================================
MoneyWatch/ May 31, 2013, 12:07 PM

Wealth of most Americans down 55% since recession

(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.

I feel bad for those affected, but I'm back where I was in property,
ahead in stocks.







Much of the total wealth of middle- and lower-income households is based
on home values, not stocks. Even though home prices have increased
nearly 11 percent in the past year, they remain about 30 percent below
their peak.

Yes, but the peak was artificial pricing. Wrong, but it happened.




The report found that members of the households that suffered the most
financially were less educated, relatively young or black or Hispanic,
or some combination of these factors. Those families tended to have low
savings and high debt, with much of their wealth based on housing.

See, that is a problem. Many of those people never should have had a
house, but mortgages were too easy to get and the people bought at
grossly inflated prices. Combination of poor lending practices,
predatory realtors/mortgage brokers/banks and consumers that were
willing to pay outrageous prices.

My house is worth 3X what I paid for it years ago. At one time, I
could have sold it for 4X, but it was just a bubble. Since it went
from 4X to 3X, the government is counting that as a 25% loss of value,
but it never truly had that value. The 3X number is about right for
normal inflation over the years.


Conclusion:
Economists and Pundits can come up with a set of numbers to make any
argument you want.

Ed Pawlowski wrote:

So how's that recovery workin for ya?

Great. Made more money last year than I ever made, this year even
more.

How much did you lose in 2007/2008?

Where are you now compared to the crash in 2007?

On Sat, 01 Jun 2013 22:43:39 -0400, Larry Kudlow
wrote:

Ed Pawlowski wrote:

So how's that recovery workin for ya?

Great. Made more money last year than I ever made, this year even
more.

How much did you lose in 2007/2008?

Where are you now compared to the crash in 2007?

Lost no income. not sure about property value, but that was all on
paper as I was not buying or selling so I was not affected. Mortgage
was paid so that was not an issue.

Stocks are ahead now by about 18%, but some of that was new
investment, not just growth. Income up by $37,000. My best year
ever last year, a bit better this year.

Big Al wrote:

Every time we buy something made in China, another person here in
the US loses their job.

So let's all look for that China label, close another US factory and
lay off our neighbors. Our grandkids can find jobs at McLowes Depot
and Walmart, right?

You people are so stupidly blind.

The root cause of why you buy so much **** made in China is because your
congress gives China most-favored-nation status in terms of import and
trade.

Ask you politicians why they dropped import taxes on stuff from China
years ago.

The answer they won't tell you is that if you don't want a world-war
involving China, you'd better find a way to keep a billion people
employed. One way to keep them employed is to buy their **** - hand
over fist, at a furious rate.

That's what you're doing, and that's really why you're able to do it.

Then the Chinese loan you back that money because your congress is
making your national debt balloon to ridiculous proportions.