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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWealthiest Americans Only Winners in Recovery, Pew Says
http://www.bloomberg.com/news/2013-04-23/wealthiest-americans-only-winners-in-recovery-pew-says.htmlThe 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 markets decline hit others harder. The report underscores the nations 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. Its a stark story of two Americas.
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Wealthiest Americans Only Winners in Recovery, Pew Says (Original Post)
xchrom
Apr 2013
OP
Orrex
(63,083 posts)1. I knew that the recession was over
when I was able to go back to lighting my cigars with $100 bills instead of $50s.
Newest Reality
(12,712 posts)2. Whew!
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...
.... 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.
jsr
(7,712 posts)4. Wealthiest Americans Only Winners in Recession
was the first part of the story
bvar22
(39,909 posts)5. By design, my pretties. All by design.
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.