How will the media spin this?

[Traumahawk]

For most families, wealth has vanished

If you’re a typical family, you’re considerably poorer than you used to be. No wonder the “recovery” feels like a recession.

A new study published by the Russell Sage foundation helps explain why many families feel like they’re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. “There are very few signs of significant recovery from the losses in wealth suffered by American families during the Great Recession,” the study concludes.

http://finance.yahoo.com/blogs/daily-ticker/for-most-families--wealth-has-vanished-172130204.html

 

[dannymax]

My guess is they will completely ignore it....just not popular to throw stones at the 'chosen one'!

 

[Tex85]

That fits the marxist, socialist agenda of the ruling party. It seems distribution of the wealth has been a success and because of that everyone is now worse off than before...

Sent from my Nexus 5 using Tapatalk

 

[MtnMax/Magniac]

Well, after all, he did promise us change . . . he just didn't say that change was all we'd have left.

 

[old timer]

Just remember...talking about the problem isn't going to fix it...think about solutions , no matter how small , and work towards them .

My 2 cents says the problem started and continues with the dickheads in DC...not all of them , but it seems the ones that have been there more than 2 terms...hmmmm...:ummm:

 

[MtnMax/Magniac]

Most of them deserve 2 terms - one in the legislature, followed by one in prison.

 

[Rollie]

Barrybama has done nothing but grease the skids of this recession. He has consistantly gone against every principle that made the U.S. great , including the Constitution. He has an attitude now that basically states " I don't care anymore ". He didn't care to start with . This country has done nothing but succeed financially virtually all of its existance. That's why immigrants want to come here . A chance at a piece of the rainbow. He has stood in the way of progress for 50% of this country for 6 years. It's not by accident , it's intentional.

That fits the marxist, socialist agenda of the ruling party. It seems distribution of the wealth has been a success and because of that everyone is now worse off than before...

Sent from my Nexus 5 using Tapatalk

 

[Traumahawk]

Barrybama has done nothing but grease the skids of this recession. He has consistantly gone against every principle that made the U.S. great , including the Constitution. He has an attitude now that basically states " I don't care anymore ". He didn't care to start with . This country has done nothing but succeed financially virtually all of its existance. That's why immigrants want to come here . A chance at a piece of the rainbow. He has stood in the way of progress for 50% of this country for 6 years. It's not by accident , it's intentional.

Unfortunately 50% voted for him....and most of those because they could get more stuff.

 

[Rusty McNeil]

"The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago"

By this measure it's certainly true. Most middle income folks net worth, nearly all of, is net worth measured by the value of their homes.

By using the "against dates" of 2007, about when the housing bubble was fixing to pop, they picked the peak of the artificial bubble of irrationally valued homes, which artificially drove the net worth measurement back then beyond where it should have been in the first place. And make a "devaluation" comparison artificially grim.
If they picked a date well before the housing bubble even began the numbers would look much different.

When you ask "how would the media spin this" I think you got your answer since in my opinion the story is heavily spun already.

I still don't get why people don't pack up and move to where the jobs are. Liberal/Socialist Politicians in general fuck the shit out an economy in a particular area, (Tax the rich, tax the piss out of business, scare em right out of the state) while good economic (NOT SOCIAL) policy in other areas makes it boom.

I do agree with the comments on the asshole in the Whitehouse, just not based on this particular news story.

 

[Traumahawk]

Well I can tell you this.....using Zillow.....my house has lost about 20% in the last 2 years. When I bought the house, using Zillow again...it was within 5% of what I paid for it.

 

[Rusty McNeil]

Well I can tell you this.....using Zillow.....my house has lost about 20% in the last 2 years. When I bought the house, using Zillow again...it was within 5% of what I paid for it.

I get that. Zillow is fairly accurate at assessing market value. Market value being what it would sell for on that date.

Zillow can't predict the future market though, nor should anyone try.

My point was the article is based on a net worth measurement at a point in time that it was artificially Inflated to begin with.

Housing should not be bought with the mind that it's an investment, it should be an expense,
If it appreciates in value well that's great, but the families that bought more home than they could really afford with the assumption (with encouragement from an avaricious lending industry) that it would grow in value so fast that they could unload it for a profit helped fuel this mess.

If my home goes up or down in value it should not have anything to do with my willingness or ability to keep paying for it, assuming my work situation hasn't changed. That's why I don't get people walking away from a home because it turned out to be a bad "investment"

A contract is a contract.....

I do get that some bought inflated homes they could afford at the time, and due to a massively shitty collapse of their local economy there's no way they could stay in it because of changing job markets.

 

[Traumahawk]

Housing should not be bought with the mind that it's an investment, it should be an expense,
If it appreciates in value well that's great, but the families that bought more home than they could really afford with the assumption (with encouragement from an avaricious lending industry) that it would grow in value so fast that they could unload it for a profit helped fuel this mess.

I understand. When I was married in 06, Debbie (X-wife) would talk about that quite often. People were moving into the neighborhood....and you knew that they couldnt afford the house that they were in.

Before.....when you applied for a loan....you had to ATLEAST have a credit score of 620...before the bubble burst, 500 would get you a loan.

 

[Rusty McNeil]

I understand. When I was married in 06, Debbie (X-wife) would talk about that quite often. People were moving into the neighborhood....and you knew that they couldnt afford the house that they were in.



Before.....when you applied for a loan....you had to ATLEAST have a credit score of 620...before the bubble burst, 500 would get you a loan.

No kidding, there's some newer "dream" neighborhoods not far from here that sprung up around that time, pretty decent homes, now they are about 50% rental properties and the neighborhoods are pure shit...you can just tell driving through no one gives a fuck anymore.....

 

[johnblaid]

Most of them deserve 2 terms - one in the legislature, followed by one in prison.

This is a solution for sure but requires violence from a superior authority. Only the Joint Chiefs can act on something like this.

Abandon hope all who live in America. Ride your Bike and Fiddle while Rome burns.

 

[VMAX Eddie]

I know from most the posts this is a right leaning forum, but the problem is much deeper than one side the isle or the other. Did you know that the Walton family, owners of Walmart, their family wealth is about equal to the bottom 60% of the entire U.S. population combined? One family!

I'm sure we can find a way to make that Obama's fault but the problem is no matter who is in the White House big business, the banking system, and the general corruption of the "good ole boy" system is what's growing the divide between the top 1% and everyone else.

If you can't pay your bills it's not Obama's fault, it's the top 1% that no one talks about, knows about, cares about.

 

[Traumahawk]

I know from most the posts this is a right leaning forum, but the problem is much deeper than one side the isle or the other. Did you know that the Walton family, owners of Walmart, their family wealth is about equal to the bottom 60% of the entire U.S. population combined? One family!

I'm sure we can find a way to make that Obama's fault but the problem is no matter who is in the White House big business, the banking system, and the general corruption of the "good ole boy" system is what's growing the divide between the top 1% and everyone else.

If you can't pay your bills it's not Obama's fault, it's the top 1% that no one talks about, knows about, cares about.

The forum itself isnt right leaning (Buster is from Canada) but the burn out pit is an "anything goes" part of the forum.

I dont like an administration that Demonizes Me and my friends, because we work and pay our taxes, and continues to want more, and gives to people who are morally superior...but just need a hand out. All the while we are over 17 TRILLION in Debt....so I know that my tax money isnt going to pay that off.

Look at this....http://www.usdebtclock.org/#

Isnt the Walton Family the quintessential American dream? To sell a product better and cheaper than your competitors and make a profit ?

My opinion is this.....if you cant pay your bills..its your own fault. Yes....there are instances of people being laid off....hours being cut...etc, but shouldnt you pick a job or a career that is stable?

This is a conversation that I got into with a woman from facebook years ago. She had stated that CEO's were paid too much money and that the government should step in and prevent that. She also stated that she had a master's degree, and had never made more than 20000, so why shouldnt she sit on the couch and collect money from the government?

I replied back......Here is a universal truth...You were never promised a good life. You were promised ONE skill or ONE ability that you can use to make a good life for your self. IE singing ability, mechanical ability...It is up to YOU to find that one skill or ability, and to make a good life for your self. It is up to you to have a Masters degree in something that an employer is will to pay you for....not a masters in origami or basket weaving.

Now....my own situation IS NOT ANY worse than anyone elses, I was 16 when my Father was murdered. 3 years later I spent my 19th birthday in court making certain that 1/2 of the duo that murdered my Father was convicted. 5 Months later, the other one was also convicted. I was the main witness against my mother and her boyfriend...and it was the right thing to do, and since then I have testified additionally to make certain that they stay in jail.

I brought up this instance to say one thing. I know that I can do ANYTHING that I chose to, or to be ANYTHING that I chose to.

There is a video called "Dare to be Great" Very inspirational. Here are some of the words.

Somewhere along the line, you changed
You stopped being you
You let people stick a finger in your face
And tell you you're no good
And when things got hard
You started looking for something to blame
Like a big shadow
Let me tell you something you already know.
The world ain't all sunshine and rainbows.
It is a very mean and nasty place
And I don't care how tough you are
It will beat you to your knees
And keep you there permanently if you let it.

You, me, or nobody is gonna hit as hard as life.
But it ain't about how hard ya hit;
it's about how hard you can get hit, and keep moving forward.
How much you can take, and keep moving forward.

That's how winning is done.

Now, if you know what you're worth,
then go out and get what you're worth.
But you gotta be willing to take the hits,
and not pointing fingers saying you ain't where you wanna be because of him, or her, or anybody.
Cowards do that and that ain't you.
You're better than that!

https://www.youtube.com/watch?v=bJw_pHGLegY


https://www.youtube.com/watch?v=_Z5OookwOoY

 

[MtnMax/Magniac]

If you can't pay your bills it's not Obama's fault, it's the top 1% that no one talks about, knows about, cares about.

So how is it the fault of successful people that you can't pay your bills? Did they put a gun to your head and force you to buy things you can't afford, or choose a career that doesn't pay well, or drop out of school and refuse to get an education which would help you get ahead. I am certainly NOT one of the vilified 1%, but I just don't understand how they can be the cause for people not being able to pay their bills. This is the great lie that the leftist administration has sold to the populace. "It's all their fault because they're rich, so let's take it from them and give it to those who are not rich and successful." Somebody said, maybe Lincoln or Jefferson or Franklin, I don't remember where the quote came from exactly, but it goes "You can't make a poor man rich by making a rich man poor" and also "Tearing one man down does not build another man up".

 

[dannymax]

The forum itself isnt right leaning (Buster is from Canada) but the burn out pit is an "anything goes" part of the forum.

I dont like an administration that Demonizes Me and my friends, because we work and pay our taxes, and continues to want more, and gives to people who are morally superior...but just need a hand out. All the while we are over 17 TRILLION in Debt....so I know that my tax money isnt going to pay that off.

Look at this....http://www.usdebtclock.org/#

Isnt the Walton Family the quintessential American dream? To sell a product better and cheaper than your competitors and make a profit ?

My opinion is this.....if you cant pay your bills..its your own fault. Yes....there are instances of people being laid off....hours being cut...etc, but shouldnt you pick a job or a career that is stable?

This is a conversation that I got into with a woman from facebook years ago. She had stated that CEO's were paid too much money and that the government should step in and prevent that. She also stated that she had a master's degree, and had never made more than 20000, so why shouldnt she sit on the couch and collect money from the government?

I replied back......Here is a universal truth...You were never promised a good life. You were promised ONE skill or ONE ability that you can use to make a good life for your self. IE singing ability, mechanical ability...It is up to YOU to find that one skill or ability, and to make a good life for your self. It is up to you to have a Masters degree in something that an employer is will to pay you for....not a masters in origami or basket weaving.

Now....my own situation IS NOT ANY worse than anyone elses, I was 16 when my Father was murdered. 3 years later I spent my 19th birthday in court making certain that 1/2 of the duo that murdered my Father was convicted. 5 Months later, the other one was also convicted. I was the main witness against my mother and her boyfriend...and it was the right thing to do, and since then I have testified additionally to make certain that they stay in jail.

I brought up this instance to say one thing. I know that I can do ANYTHING that I chose to, or to be ANYTHING that I chose to.

There is a video called "Dare to be Great" Very inspirational. Here are some of the words.

Somewhere along the line, you changed
You stopped being you
You let people stick a finger in your face
And tell you you're no good
And when things got hard
You started looking for something to blame
Like a big shadow
Let me tell you something you already know.
The world ain't all sunshine and rainbows.
It is a very mean and nasty place
And I don't care how tough you are
It will beat you to your knees
And keep you there permanently if you let it.

You, me, or nobody is gonna hit as hard as life.
But it ain't about how hard ya hit;
it's about how hard you can get hit, and keep moving forward.
How much you can take, and keep moving forward.

That's how winning is done.

Now, if you know what you're worth,
then go out and get what you're worth.
But you gotta be willing to take the hits,
and not pointing fingers saying you ain't where you wanna be because of him, or her, or anybody.
Cowards do that and that ain't you.
You're better than that!

https://www.youtube.com/watch?v=bJw_pHGLegY


https://www.youtube.com/watch?v=_Z5OookwOoY

Great post Eric!! unk:

 

[SpecOps13]

I'm so far right, I can go no further. Our Constitution has been ignored by all in power. Few who reach that status are there for, We The People and Our Rights. We actually need to read the Constitution and THINK SERIOUSLY ABOUT A REAL TEA PARTY. We again have Taxation Without Representation.... God, Guns and Guts made and has kept America Free. We're being legislated out of the first, are losing the second to the same and the third went out the window in Jan. 2009.

 

[johnblaid]

Dateline Washington DC

President Obama today commended all Americans who were making an effort to reduce their carbon footprint by leaving their old and expensive houses and living under bridges.

He issued a statment from Air Force One on his way to the Cayman Islands: "My administration has always supported conservation efforts of all kinds and the number of people making the change to under-bridge recyclable cardboard dwellings warms my heart and gives me hope for a cleaner future. America is behind me and I'm behind it."

Film at Eleven