Things Have Spiraled Out of Control: American Households Hit 43-Year Low In Net Worth, A Staggering Collapse In Small Business Optimism Since The Election, $268 Billion In New ObamaCare Taxes Beginning January 1, 2013, And A New Law To Tax Americans Heavily For Leaving The United States!!
December 1st, 2012
Study: American Households Hit 43-Year Low In Net Worth
from CBS News:
The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969.
According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole.
According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent. The “less than $10,000? figure includes the numerous households that have no assets at all, or “negative assets,” which is otherwise known as “debt.”
There’s Been A Staggering Collapse In Small Business Optimism Since The Election
Pretty intense Gallup poll showing massive collapse in small-business owner attitudes since the election. Note that small business owners tend to be pretty conservative, and were very anti Obama (HT: @dutch_book).
The press release is below.