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xoe will solve this by spending even more money we don't have.
Quote:
The CEO of a luxury furniture retailer has claimed it is 'crazy' to think the US economy is not in recession, as household wealth fell by a record $6.1 trillion in the second quarter.
This administration seems to truly belief if they refuse to acknowledge it’s a recession everyone will think the economy is doing just great. Meanwhile, my weekly grocery bill says otherwise.
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Btw, I was very much surprised by this quote from the above link, my italics: "The average American family has a $748,000 net worth, according to Federal Reserve data. But the median net worth is $121,700." [end quote] I think this is an indication of how rich the very wealth truly are.
NOTE: I also tried to find the average median and net worth for 2010 to 2021, but no luck. Anyone else want to try?
Plus the Fed is actively raising rates to destroy the demand side of the economy to control rampant inflation that will send about 10 million Americans into unemployment.
If it's too expensive to buy stuff, and you don't have income, demand for goods falls, inflation returns to 2%.
Btw, I was very much surprised by this quote from the above link, my italics: "The average American family has a $748,000 net worth, according to Federal Reserve data. But the median net worth is $121,700." [end quote] I think this is an indication of how rich the very wealth truly are.
NOTE: I also tried to find the average median and net worth for 2010 to 2021, but no luck. Anyone else want to try?
that is a seriously ginormous gap between average and median.
I'm nowhere near retirement, my investments are worth a lot less than 2021 but making much more money now. Since I'm not a retired Boomer, still pretty damn happy.
Thats why dems election strategy is simply "orange man bad" and abortion, theyve got nothing to show but deep holes.
Bingo and 'orange man' has been gone for almost two years. Really pathetic.
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