December 10, 2012

FORWARD! How Middle Class Wealth Collapsed to a 40-Year Low. “Between 2007 and 2010, the median net worth of U.S. households fell by 47 percent, reaching its lowest level in more than forty years, adjusted for inflation. In other words, middle class wealth virtually evaporated in this country. A good chunk of the population got sucked through a financial wormhole back to the sixties. . . . Our economy still fundamentally runs on middle class spending — on houses, on cars, on trips to the mall — and those families saw their finances eviscerated in a way unlike what’s happened during any recession since World War II.”

Comments are closed.
InstaPundit is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to