Recovery! US Household's 40% Decline in Net Worth!

Everyone I know, including myself, is doing much better than 5 years ago.

Call it shill or call it fact. Your words buddy.

This is reality 101. If this doesn't tell the recovery tards that they need to wake up, nothing will!

I'm doing better. That said, I know many people around me. Hardworking and financially conservative that are foundering.

See Zazz, I would speculate you are big fan of Aynd Rand. And you come on here castigating all the economic doomtards because you believe yourself immune to the big giant cock in kiester that can come from any direction.

That's the problem with folks that insulate themselves because 'they are doing good'. Soon or later, what happens to your neighbor has an effect on you.

you're not even a real person. you're a transvestite in some basement looking to cyber with young boys about money.

House prices factor in this drop heavily. 401k accounts make me laugh bitterly. On the positive side, still have a "stable" job for now. Awaiting the second dip caused by QE3

No! Come on. Let's not turn this thread into a bash of Zazz there's enough of that shit on here.

Let's stay on topic. And that is the storm brewing in the middle and upper middle class.

I have my fingers crossed for you.

since obama the value of my duplex has gone fron 770k to 450k Annd I'm still paying taxes on the 770K

This is why I keep saying QE 3 is a go.

The American Housing market is the largest wealth creator in the world, and it's flat on it's back. Banks are not making enough new loans to keep enough liquidity in the system to repay the old loans plus interest.

Thus the forces on the market are deflationary, the Fed must Monetize the short fall in the monetary base.

Quantitative Easing, the total Quantity of money in the system is too low, pressure are deflationary.

Debts do not deflate with prices and wages.

We are already seeing a fall in Global Commodity prices:

In May 2012 the prices continued their fall with energy plummeting by 7.6% and the non-energy falling by 2.5%. Food prices declined by 2.1%, beverages up by 1.3%, raw materials dropped by 1.9%, metals down by 4.7% and on balance, fertilizers appeared unchanged.

..And unemployment ticking back up in the US. Both these along with slowing world GDP are heavy indicators of deflationary pressures across all key economic markets.

QE 4/5/6 Anyone?

Funny part is, I'm not spending because of the uncertainty out there. Of course, with the rising health insurance premiums, gas at $3.00+/gal, rising food prices, projected higher electric bills this summer etc etc. Well, I might go out and purchase some bullets for the range this weekend.

Damn it Im starting to sound like a republican.

Same here.Of course I wasnt doing to well so most anything would have improved my position.However I know many that were much much better off than I was that have lost a lot and are living a cut back lifestyle.
how well we were doing before the mess got bad is what determines if you are better or worse off now.

Yes Dave, under normal circumstances, I'd say your correct. However, we are in geopolitical and economic Heisenberg situation.

Seriously, Debts do deflate when bankruptcy is filed. QE3 Needs to be bailing out the American People. It wont work otherwise.

Welcome to the fold, we aren't all insane hillbillies that think the world was made 5000 years ago by Keebler Elves!

Clearly it was when Gil Gerard chased Bender Rodriguez into distant future and ejaculated into a black hole!

Seriously, I am being very conservative with my spending. And I can afford to purchase things that I now just say, 'eh, do I really need it?'

For example, my farmer's flat bed, I used buy a new one ever four years, not now.

QE, in an outright form CANNOT happen ever again - given the current stats on commods, markets, etc. If they pump more money into the system OPENLY say hello to 10 dollar gas and 5 dollar milk, while still having a massive drop in enployment. QEx will be the knife in ceasars back, so to speak...

...and who do you think eats the debt on a bankruptcy? Do you really think it magically disappears? Pension fund managers, banks, and even YOU eat it. They CANNOT push a QE3 to the public. That would destroy what is left. If they "bail out" the public say hello to a 3 dollar snickers candy bar...

We are raising two kids on 27k per year. What frikkin' recovery???

Market is down big in the Americas. Dow slowly and orderly going down but going down more sharply.

That does suck, I'm sorry. =( Me and hubby both work, have 3 kids and it's about 40k a year for us and I find it tough sometimes.

FOMC on June 19th and 20th will tell the tale, I don't see how they can wait. They'll have to throw Obama under the truck, he would not win anyway with full deflation by Nov.

I've got money in the bank but have become what I call a minimalist. I'm spending very little money. I've even cut back to 2 meals a day and am saving on the food bill. Plus I've lost 10 lb so far. Hard times are coming, get your body in shape. Get used to living with less of everything....

You mean you and all your basement dwelling
friends??

Time for your paper route junior

Where do you live and what do you do?

Context is important

So you think that stat is B.S?

Not my concern the effects on us is be irrelevant. Every thing goes down food prices affect farmers, supermarkets etc etc, gas prices affects this and than and that and this including the price of bullets.

The public will bail it self out, hint BANKRUPTY, or worse they will walk away and then what? 3 dollar snickers are already here. QE three should be simply Raise the rates, raise the taxes. IF the banks fail so be it, if the market crashes so be it. Let the austerity begin. The public can no longer support the system. Its time to brush off those gargening skills and start raising chickens in the back yard.

I think a lot of these stats don't tell the story accurately.

No DUMB ASS!!! ...and it should be your concern. NOTHING goes down in this scenario it goes UP, UP, UP based on supply/market limits and JiT!!!!! Let the system crash? Do have any fucking clue what comes next? Chances are you will not survive, nor will most in your family or friends. This is not a simple, peaceful reboot, kumbiya holding hands shit - this is full blown ML and continuity implementation. Everyone is FUCKED. So pull yourself off the pipe and learn something in life...

Detroit? This is your future, America.

Until you own land or live in Detroit (I am the former), one cannot understand.

The collapse of Detroit has nothing to do with the car industry. This is BS.

To give a parallel, in the 1980's, 90% of the British town of Consett were employed in the steel mill or by companies associated with it. It was summarily closed. Falls in property values were a fraction of those in Detroit and within 10 years, all lost jobs had been restored thanks mainly to five of the redundant steel workers establishing a food company in the town.

Detroit's problem is its City Hall. All the "programmes" designed reduce problems are the actual cause of them.

For instance, the "Anti-BLight" legislation means that if someone drops a chip packet on your lawn overnight, a city official can whack you with a $16,000 fine in the morning. Given all this array of punitive fines for trivial "infractions" ie ordinary workaday events, no-one in their right mind would buy a building there now, so real estate collapses and the "Anti-Blight" legislation has had the effect of filling the city with derelict properties.

To counter the rising unemployment, City Hall just keeps hiring new employees, in fact 60% of the City now works for City Hall...and to pay for all these needless employees, tax rates have skyrocketed killing off all the private enterpise jobs.

Obama's "Solutions" to the economic downturn are the CAUSE.

Wake up America before your own town looks like 8 MILE.