Americans are 40% poorer than before the recession
marketwatch.com
Americans are 40% poorer than before the recession
1–10 of 92 posts
Re: Americans are 40% poorer than before the recession
#2Thanks, Obama.
Re: Americans are 40% poorer than before the recession
#3Thanks, Obama.
Pretty sure he was still a senator when it happened.
Re: Americans are 40% poorer than before the recession
#440% of a random number is still a random number. People calculate stuff like this all the time without any actual basis in fact. Unless you have a rigorous knowledge of statistics and a careful process, most of these definitive statements are basically pulling numbers out of your ass.
Re: Americans are 40% poorer than before the recession
#5Why are they using the height of the real-estate bubble (2007) as the measure of previous net worth? If home prices were so out of whack in 2007, I would think their values might be influenced considering they include "homes" in the valuation.
Re: Americans are 40% poorer than before the recession
#6Re: Americans are 40% poorer than before the recession
#740% of a random number is still a random number. People calculate stuff like this all the time without any actual basis in fact. Unless you have a rigorous knowledge of statistics and a careful process, most of these definitive statements are basically pulling numbers out of your ass.
Here's the link to the original article from the Pew Research Center: http://www.pewresearch.org/fact-tank/2014/12/12/racial-wealt...
You should consider contacting them to explain exactly what they did wrong.
Re: Americans are 40% poorer than before the recession
#8Re: Americans are 40% poorer than before the recession
#9"The recession is over" has always struck me a political double-speak. We never left the recession; mainstream America just collectively forgot how it felt to have enough money. We have become accustomed to the 60 hour work weeks for folks fortunate enough to have jobs, chronic unemployment for those unfortunate enough to work outside of tech, the cheaper processed food, the increasing debt, and the lower standard of living. Being poor is the new norm, and "the recession is over" translates to "get used to it buddy, it's not getting any better."
Given that's the case, I wonder what the phrase "double dip recession" we hear thrown around referring to impending repeat economic troubles actually translates into?
Re: Americans are 40% poorer than before the recession
#10Absolute trash analysis. Worse than garbage. I say worse because the analysis is so catastrophically wrong that the complete inverse could be true.
It's using average. Average is a terrible data point. I think if you replace 'average' with 'median' you'll have something more useful >95% of the time. Maybe more.
For example, it is widely circulated that the gains have all gone to the rich. Well the losses also went to the rich. It's theoretically possible that the median household, or even 90% of all households, have exhibited slow but linear growth since just before 2007. Meanwhile the upper echelon could have swung wildly down than up.
Now I'm not saying that's the case. What I'm saying is that could be the case. The data presented provides insufficent information to make any type of determination on how "Americans" are doing.
Bah hum bug!
Edit: Yup. I deserve that for failure in reading comprehension. Oops.