Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Thank You, George W. Bush...

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
MrScorpio Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-09-11 11:48 PM
Original message
Thank You, George W. Bush...
For less than nothing.



America's lost trillions

NEW YORK (CNNMoney) -- One reason that the U.S. economy still struggles to achieve sustained growth is that Americans are a long way from recovering the trillions of dollars of household wealth lost during the Great Recession.

U.S. household wealth fell by about $16.4 trillion of net worth from its peak in spring 2007, about six months before the start of the recession, to when things hit bottom in the first quarter of 2009, according to figures from the Federal Reserve.

While a rebound in the stock market, an improved savings rate and consumer steps to reduce debt resulted in net worth gains since 2009, only a little more than half of that lost wealth - $8.7 trillion -- is back on household balance sheets.

That leaves American household wealth $7.7 trillion less than it was before the recession.
"The huge loss of consumption is due to loss of $8 trillion in bubble wealth," said Dean Baker, co-director of Center for Economic and Policy Research.

http://money.cnn.com/2011/06/09/news/economy/household_wealth/index.htm?iid=Popular
Printer Friendly | Permalink |  | Top
Anakin Skywalker Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-09-11 11:53 PM
Response to Original message
1. G.W. Bush = Total Douchebag! Thanks for f*cking up America!
Edited on Thu Jun-09-11 11:56 PM by Anakin Skywalker
Printer Friendly | Permalink |  | Top
 
Amonester Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 12:14 AM
Response to Original message
2. Oh, but chimpy sells books (he didn't write), and he, like always,...
doesn't.care.
Printer Friendly | Permalink |  | Top
 
Newest Reality Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 12:33 AM
Response to Original message
3. I want to personally thank Dim Son,
(you know you are reading this Georgie) ...

For the deep insight he gave us all into what a titular head really is and does.

Plus, the humor factor of an obvious, dimwit President showed us just all just how the office became nothing more than a corporate PR spokesman position that any failure could fill if only their Papa had enough money to make it so and if the Devil himself were by your side, (Karl Rove) were by your side, (as you professed your borned againededness) doing whatever he could to make sure your ineptitude could rise to stardom. After you, Dubya, we realized that anyone could actually the President, and that money and influence, not capability or intelligence or anything else, would make it so.

Thank you for opening our eyes to the illusion we have been living in for so long, George. You did a great job in that respect, though some of us do not quite get your real message as idiot-in-chief. You were a failure all of your life, and if you Daddy had not been a rich, connected Mafioso, World-controller type, we know you would have been slobbering and puking on the streets as you begged for change. See what America can do for a person of such a low capacity and mentality? Proves it, don't it?
Printer Friendly | Permalink |  | Top
 
notesdev Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 04:08 AM
Response to Original message
4. Graph looks odd to me
Why is fake bubble wealth being considered to be actual wealth that was lost? It was never real wealth.

And what happens when you chart the timeline back to the pre-bubble years?
Printer Friendly | Permalink |  | Top
 
Major Hogwash Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 04:21 AM
Response to Original message
5. Add to that the $8.5 Trillion dollars of debt he added to the national debt, and Bush is a shoo-in.
To be the worst President in the history of the United States.
Printer Friendly | Permalink |  | Top
 
indepat Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 10:35 AM
Response to Reply #5
7. It's amazing that some seem to have not yet comprehended what is obvious on its
face. :patriot:
Printer Friendly | Permalink |  | Top
 
Scuba Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 06:26 AM
Response to Original message
6. This was even reported, but no one noticed....
<img src="" title="Hosted by imgur.com" />
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sat May 04th 2024, 04:22 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC