Here’s the place to dump all those items that don’t seem to warrant a full diary — or maybe they do and you just don’t have the inspiration…
TELL US AGAIN ABOUT THE BOOMING ECONOMY, MR. PRESIDENT
Median net worth slows from 2001
Up 1.5% compared with a 10.3% gain in previous 3-year period
WASHINGTON — Growth in U.S. family wealth slowed to a crawl from 2001 to 2004 and stock ownership fell, according to a Federal Reserve report released Thursday.
Median net worth, the difference between household assets and liabilities, rose 1.5 percent, to $93,100, down from a 10.3 percent gain from 1998 to 2001. Net worth fell for the bottom 40 percent of U.S. families, according to the survey of 4,000 households, which the Fed conducts every three years.
“It’s discouraging,” said Stephen Brobeck, executive director of the Consumer Federation of America. “What we see is little change in the assets of the typical American household between 2001 and 2004, after substantial increases in the previous six years.”
The net worth of the wealthiest 10 percent of U.S. families rose to a median $924,100 in 2004 from $887,900 three years earlier. Net worth for the poorest 20 percent of the population fell 11 percent, to $7,500. Those in the next highest income group saw net wealth fall 13.4 percent, to $34,300.
[emphasis mine]
So, what’s going on in your world?
