Interesting II

[Wolfman]

http://www.washingtonpost.com/business/ ... story.html

Welcome to 1992?

[Mikey]

Welcome to 1992?

For the middle class, yes.

Interesting that they used the median net worth as a measure of "Americans' wealth."

You do understand the difference in meaning between the median and the mean...don't you?

[Screw_Michigan]

Fucking liberal media.

[Wolfman]

Mean, Median, Mode. You're telling me that your net worth has not taken a severe hit in the past few years?

[Mikey]

Mean, Median, Mode. You're telling me that your net worth has not taken a severe hit in the past few years?

Sure it has. I'm solidly middle class and it's taken a couple of huge hits in the past 11 years. But the wealth of the top 1% has increased while everybody else's has taken a dive.
You should be happy about that - it's the primary goal of your masters.

Also, the data had a lot more to do with the decline in home values than anything else. They were ridiculously inflated anway.

[atomicdad]

Oh hell Mickey, solid middle class, you are the 5%, your worth may have fluctuated with the housing bubble and decline but I bet you are lounging in your hot tube powered from the surplus net PV generation for the day thinking "Yea, i'm sticking it to the man", and not in the M2 sense of the phrase.

[smackaholic]

Mean, Median, Mode. You're telling me that your net worth has not taken a severe hit in the past few years?

Sure it has. I'm solidly middle class and it's taken a couple of huge hits in the past 11 years. But the wealth of the top 1% has increased while everybody else's has taken a dive.
You should be happy about that - it's the primary goal of your masters.

Also, the data had a lot more to do with the decline in home values than anything else. They were ridiculously inflated anway.

What ^^^^^ said.

A big chunk of that alleged wealth was a fantasy. Mikey prolly could have sold his pad for something awfully close to a million bucks in '06. Today, even with that sweet PV shade tree I helped pay for, he'd prolly be doing good to get three, three fity.

And the worst part about it is we have insanely low interest rates at the moment. Imagine what would happen if they returned to where they prolly ought to be, somewhere in the 6-8% range?

So, how did this happen? Some say we need more regulation of banks. I don't think we do. What we do need is the fukking feds to stop backing stupidity. They wrote ridiculous mortgages because they had fannie and freddie and their pals saying sure, go ahead, we got your back.