"During the first two years of the nation's economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data.What part of the consequences of printing money and giving it to the big banks don't you understand?
From 2009-2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896.
These wide variances were driven by the fact that the stock and bond market rallied during the 2009-2011 period while the housing market remained flat."
A personal log of stories to mine for future, libertarian essays.
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Sunday, April 28, 2013
Federal Reserve
The sad but inevitable reality exposed by an analysis of the Fed's impact on the economy.
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