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xchrom

(108,903 posts)
Sun Apr 28, 2013, 07:23 AM Apr 2013

Wealthiest Americans Only Winners in Recovery, Pew Says

http://www.bloomberg.com/news/2013-04-23/wealthiest-americans-only-winners-in-recovery-pew-says.html

The U.S. economy has recovered for households with net worth of $500,000 or more, a new study shows. The recession continues for almost everyone else.

Wealthy households boosted their net worth by 21.2 percent in the aftermath of the recession, according to the study released today by the Pew Research Center. The rest of America lost 4.9 percent of household wealth from 2009 to 2011.

Pew attributed the disparity to gains during that period in the stock and bond markets, benefiting affluent households, while the housing market’s decline hit others harder. The report underscores the nation’s growing income inequality, with the top 13 percent of households recovering their losses from the 18- month recession that ended in June 2009, and the rest of the country continuing to hemorrhage wealth.

“The results are entirely sensible, but depressing,” said Richard Fry, a Pew senior research associate and co-author of the study by the Washington-based organization. “It’s a stark story of two Americas.”
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Wealthiest Americans Only Winners in Recovery, Pew Says (Original Post) xchrom Apr 2013 OP
I knew that the recession was over Orrex Apr 2013 #1
Whew! Newest Reality Apr 2013 #2
Sure... sendero Apr 2013 #3
Wealthiest Americans Only Winners in Recession jsr Apr 2013 #4
By design, my pretties. All by design. bvar22 Apr 2013 #5

Orrex

(63,083 posts)
1. I knew that the recession was over
Sun Apr 28, 2013, 07:38 AM
Apr 2013

when I was able to go back to lighting my cigars with $100 bills instead of $50s.

Newest Reality

(12,712 posts)
2. Whew!
Sun Apr 28, 2013, 07:51 AM
Apr 2013

Things are looking up!

I was finally able to upgrade all of my yachts and do the 15 bathrooms in my main mansion with diamonds and platinum. Looks great.

Lovin' the recovery.

sendero

(28,552 posts)
3. Sure...
Sun Apr 28, 2013, 08:24 AM
Apr 2013

.... we're not in a recession. This is the new normal! Get used to it, neither party has the political will and power to do anything about it.

bvar22

(39,909 posts)
5. By design, my pretties. All by design.
Sun Apr 28, 2013, 11:56 AM
Apr 2013

The plan is working perfectly.
They have gotten all the bugs out,
increased the efficiency,
cut the dead weight,
and maximized the profits for the 1% from a "Jobless Recovery."

After 30 years of development, "they" know just what to do.

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