Archive for the ‘Economy’ Category

U.S. Loss of Wealth Has a Profound Impact on the Economy

The Federal Reserve made an unfortunate announcement last week. Americans’ net worth dropped a stunning 38.8 percent from the year 2007 to 2010. Specifically, the gains people have been realizing for the past 18 years are now completely gone. This affects those who had most of their net worth concentrated in their houses more than others because the housing market crash contributed to this loss more than any other cause during the years cited.

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