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

 
AmericanJedi
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06/11/2012 03:27 PM
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Recovery! US Household's 40% Decline in Net Worth!
[link to www.washingtonpost.com]



The Federal Reserve’s detailed survey of consumer finances showed families’ median wealth plunged from $126,400 in 2007 to $77,300 in 2010 — a 39 percent decline. That put them on par with median wealth in 1992.




Okie dokie, shills for the recovery, spin this one!

While my net worth has actually ticked up the last couple of years, my parents took a big hit 2008 and have yet to recover as has the brother and sister-in-law of my mother.


So, come on shill for the recovery!
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
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06/11/2012 03:30 PM
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Re: 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.
AmericanJedi (OP)

User ID: 1503533
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06/11/2012 03:30 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
This is reality 101. If this doesn't tell the recovery tards that they need to wake up, nothing will!
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
AmericanJedi (OP)

User ID: 1503533
United States
06/11/2012 03:31 PM
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Re: 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.
 Quoting: NostradamZAZZ


I'm doing better. That said, I know many people around me. Hardworking and financially conservative that are foundering.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
AmericanJedi (OP)

User ID: 1503533
United States
06/11/2012 03:33 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
User ID: 13768097
United States
06/11/2012 03:34 PM
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Re: 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.
 Quoting: NostradamZAZZ


you're not even a real person. you're a transvestite in some basement looking to cyber with young boys about money.
Anonymous Coward
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06/11/2012 03:36 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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
AmericanJedi (OP)

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06/11/2012 03:36 PM
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Re: 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.
 Quoting: NostradamZAZZ


you're not even a real person. you're a transvestite in some basement looking to cyber with young boys about money.
 Quoting: Anonymous Coward 13768097


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.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
AmericanJedi (OP)

User ID: 1503533
United States
06/11/2012 03:37 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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
 Quoting: Anonymous Coward 2160618


I have my fingers crossed for you.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
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06/11/2012 03:43 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
since obama the value of my duplex has gone fron 770k to 450k Annd I'm still paying taxes on the 770K

ahhh
King David
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06/11/2012 03:43 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
Anonymous Coward
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06/11/2012 03:45 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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
 Quoting: Anonymous Coward 2160618


I have my fingers crossed for you.
 Quoting: AmericanJedi


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.
Anonymous Coward
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06/11/2012 03:47 PM
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Re: 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.
 Quoting: NostradamZAZZ


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


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.
AmericanJedi (OP)

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06/11/2012 03:48 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
 Quoting: King David 17773461


Yes Dave, under normal circumstances, I'd say your correct. However, we are in geopolitical and economic Heisenberg situation.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
User ID: 2160618
United States
06/11/2012 03:49 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
 Quoting: King David 17773461


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

User ID: 1503533
United States
06/11/2012 03:51 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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
 Quoting: Anonymous Coward 2160618


I have my fingers crossed for you.
 Quoting: AmericanJedi


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.
 Quoting: Anonymous Coward 2160618


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.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
User ID: 1018748
United States
06/11/2012 03:54 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
 Quoting: King David 17773461






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...
Anonymous Coward
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06/11/2012 03:56 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
 Quoting: King David 17773461


Seriously, Debts do deflate when bankruptcy is filed. QE3 Needs to be bailing out the American People. It wont work otherwise.
 Quoting: Anonymous Coward 2160618




...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...
Anonymous Coward
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06/11/2012 03:57 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
We are raising two kids on 27k per year. What frikkin' recovery???
Anonymous Coward
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06/11/2012 04:00 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
Market is down big in the Americas. Dow slowly and orderly going down but going down more sharply.
amywood71605

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06/11/2012 04:02 PM

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Re: Recovery! US Household's 40% Decline in Net Worth!
We are raising two kids on 27k per year. What frikkin' recovery???
 Quoting: Anonymous Coward 12973127


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.
"Live each day like it's your last, love like you've never been hurt, and dance like no one is watching."
King David
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06/11/2012 04:03 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
 Quoting: King David 17773461


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


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.
Anonymous Coward
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06/11/2012 04:04 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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....
Anonymous Coward
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06/11/2012 04:18 PM
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Re: 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.
 Quoting: NostradamZAZZ


stir

You mean you and all your basement dwelling
friends??
Anonymous Coward
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06/11/2012 04:19 PM
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Re: 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.
 Quoting: NostradamZAZZ


stir

You mean you and all your basement dwelling
friends??
 Quoting: Anonymous Coward 3405890


whatever Time for your paper route junior
Anonymous Coward
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06/11/2012 04:20 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
We are raising two kids on 27k per year. What frikkin' recovery???
 Quoting: Anonymous Coward 12973127


huh

Where do you live and what do you do?

Context is important
***Evan***

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06/11/2012 04:24 PM
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Re: 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.
 Quoting: NostradamZAZZ


So you think that stat is B.S?
Truth is the new hate speech in this age of absurdity.
Anonymous Coward
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06/11/2012 04:25 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
 Quoting: King David 17773461


Seriously, Debts do deflate when bankruptcy is filed. QE3 Needs to be bailing out the American People. It wont work otherwise.
 Quoting: Anonymous Coward 2160618




...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...
 Quoting: Anonymous Coward 1018748


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.
Anonymous Coward
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06/11/2012 04:26 PM
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Re: 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.
 Quoting: NostradamZAZZ


So you think that stat is B.S?
 Quoting: ***Evan***


I think a lot of these stats don't tell the story accurately.
Anonymous Coward
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06/11/2012 04:37 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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?
 Quoting: King David 17773461


Seriously, Debts do deflate when bankruptcy is filed. QE3 Needs to be bailing out the American People. It wont work otherwise.
 Quoting: Anonymous Coward 2160618




...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...
 Quoting: Anonymous Coward 1018748


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.
 Quoting: Anonymous Coward 2160618




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...
Anonymous Coward
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06/11/2012 04:41 PM
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Re: Recovery! US Household's 40% Decline in Net Worth!
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.

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