US households may take 15 years to rebuild wealth

To me this isnt anything significant, this should be known already to all that its going to take at least 10 years to get out of this crisis, everyone believes that the economy is looking for a recovery come the end of 2009 however I believe this to be false, just like japan had their lost decade we will experience the same thing, 10 years of no growth for our economy is almost certain going forward.
 
Greatest speech ever.

<object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/jeYscnFpEyA&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/jeYscnFpEyA&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="340"></embed></object>
 
Great speech, indeed!

Too bad the average American fool is now too dumb, lazy & poor to even care. In fact, there's so much 'welfare' going around that most will just vote to continue the 'gravy train' and bankrupt the rest.

Those who are well off have to vote with their feet & money & take off for 'friendlier' shores.
 
probably more like twenty. it hasn't hit its low yet so it will have to go down some more for a couple of years then recover. the biggest problem is that we don't have the natural resources like we used to get out of the great depression for production to get manufacturing together.
 
Quote from ByLoSellHi:

Greatest speech ever.

<object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/jeYscnFpEyA&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/jeYscnFpEyA&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="340"></embed></object>
More...

I agree!! Amazing! Sent that to MANY Friends, and Clients.
 
A teabag! All that passion and vehemence and all he wants is a tea bag! How about stand for office? Start a political party or take over one locally?

Illegal immigrants are a red herring and a low way to incite jingoistic fervor. They don't keep America back, massive subsidies and tax breaks to multinationals and the uber wealthy do, having their lobbyists write our laws does. Have we leaned nothing from the bailouts and the inconsistent treatment of wall street and main street, today of all days when GS announces record bonuses! Could it be any plainer?

As I watched the fine acting, every time he said "Wake up America" I couldn't help but hear that old KKK guy saying "Wake up white people!"
 
Quote from Mvic:

A teabag! All that passion and vehemence and all he wants is a tea bag! How about stand for office? Start a political party or take over one locally?

Illegal immigrants are a red herring and a low way to incite jingoistic fervor. They don't keep America back, massive subsidies and tax breaks to multinationals and the uber wealthy do, having their lobbyists write our laws does. Have we leaned nothing from the bailouts and the inconsistent treatment of wall street and main street, today of all days when GS announces record bonuses! Could it be any plainer?

As I watched the fine acting, every time he said "Wake up America" I couldn't help but hear that old KKK guy saying "Wake up white people!"
More...

I'm sure he doesn't want to be accused of inciting violence.

All grassroot movements have to start somewhere, however symbolic.
 
Quote from turkeyneck:

June 22 (Bloomberg) -- U.S. households may take as long as 15 years to rebuild wealth lost in the recession, said Columbia University professor Edmund Phelps, winner of the Nobel Prize in economics in 2006.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKMxwUC4D3nw
More...

Not necessarily.

A better metric than disposable income for consumption is the debt-to-asset ratio.

If assets are much greater than debts, more debt (read: credit) can be taken.

Bubbles ramp-up the asset denominator of the equation and re-balance the debt-to-asset equation, at least temporarily. Albeit, artificially.

This is what Bernacke is trying to do. Create another bubble. Of course, bubbles are destructive and each one inflicts greater damage than the one before it. One or two bubbles more and it'll be a Great(er) Depression.
 
You must log in or register to reply here.
Back
Top