It’s not often I comment on another newspaper article because I’m pretty much a free thinker.
Here is a to the point article that once again our elected officials (Both Democrats and Republicans) would rather see swept under the rug that to have to answer questions to the point from an aware American public.
The article pretty much confirms that the majority of American wealth has been rolled back 20 years as a result of the recession and poor decisions by both ourselves and elected officials.
For many among the working class, these statistics will not be felt until retirement. For those of us over 40 this news is flat out devastating. Imagine looking at that statistic and coming to the realization that the wealth you’ve accumulated for retirement will actually be 1/6th the size of what you actually planned for.
I’ve never been one to advocate downsizing but for those of who’s retirement train is off the rails. Some pretty dramatic actions are needed in the lifestyle department, unless you particularly like being homeless at 70.
Here’s the article and here’s the link
Americans’ wealth plummeted 40 percent from 2007 to 2010, Federal Reserve says