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11-27-2012, 02:51 PM
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#1
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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Median Net Worth $57K
Posted for just for the numbers, and general information. Not to make any particular point.
Median Net Worth In 2010 At Lowest Level Since 1969: Report
The first link in the article goes to the study, and a .pdf file that goes into more detail on subjects such as pensions, wages, home ownership, stock ownership etc.
The paper further discusses the effects on society as a whole, including stability and future well being.
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11-27-2012, 02:53 PM
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#2
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Texas
Posts: 1,038
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It would be interesting to see a chart comparing the median and average net worth over time inflation adjusted.
__________________
In theory, theory and practice are the same. In practice, they are not.
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11-27-2012, 03:09 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,897
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Sounds like getting into that 1% group might be worth the effort. Where do I apply?
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11-27-2012, 03:35 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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So what?
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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11-27-2012, 03:40 PM
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#6
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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 Quote: Guess you are right... It doesn't matter. 
Moderator... ok to close this thread.
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11-27-2012, 03:49 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,231
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Quote:
Originally Posted by imoldernu
Guess you are right... It doesn't matter.
Moderator... ok to close this thread. |
Why  Just because one person said 'so what?'
No reason to close it up unless people go off course....
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11-27-2012, 05:09 PM
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#8
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,873
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I just finished looking at the paper and I found it interesting. It is well done. The data is broken out to many groups and in multiple ways.
The ratios for wealth and income white to black and hispanic changed little since 1982.
Personal debt (vs home debt) remained constant and actually lowered a bit in the last decade.
The data on home ownership made me ponder about some of my friends and acquaintances. I conclude that some people were never meant to own homes and if they do, it is a mistake that is self correcting with tragic financial consequences.
Thanks for posting imoldernu
__________________
Free to canoe
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11-27-2012, 05:29 PM
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#9
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Texas
Posts: 1,038
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Quote:
Originally Posted by imoldernu
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I need a graph. I have a short attention span. 
I did look over the PDF though.
Don't close the thread. If we can't discuss anything what's the point?
__________________
In theory, theory and practice are the same. In practice, they are not.
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11-27-2012, 05:45 PM
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#10
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Thinks s/he gets paid by the post
Join Date: May 2011
Location: St. Paul
Posts: 1,847
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I found it an interesting read. Thanks for posting it imolderu.
Why in the world would someone make such a rude remark as "so what"? Can't think of a better way to belittle the poster and shut down conversation. Sheesh.
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11-27-2012, 05:53 PM
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#11
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2005
Posts: 6,176
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What i want to know is where do they extract this info from. its not part of any census and i know of no one ever surveyed.
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11-27-2012, 06:36 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by Ally
I used to be an admin a family travel type forum for ten years. I'm still friends with about 15 people from that forum on a private Facebook site. The forum went under due to fighting. It started out great, but a few bad ones came in and ruined it. It was addicting in the good years.
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The mods have to have all the interpersonal skills required of a crack kindergaten teacher: "You kids behave or I'll send you to time out!"
__________________
Numbers is hard
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11-27-2012, 06:54 PM
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#13
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Texas
Posts: 1,038
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Quote:
Originally Posted by REWahoo
As an example:
The mods have to have all the interpersonal skills required of a crack kindergaten teacher: "You kids behave or I'll send you to time out!" |
I don't want the job!
__________________
In theory, theory and practice are the same. In practice, they are not.
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11-27-2012, 07:13 PM
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#14
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,711
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imoldernu,
I think the number of statistics is overwhelming to some. People tend to dis-count the story once they know the genre.
The tone of the paper is wrong, I feel. In peer-reviewed research you wouldn't use a term like "pummeled," for instance.
I take the position that the gist of the article is correct. I believe so because I live in and near some of the richest towns in NJ. During the 25 years I've lived in these parts, the divergence of our classes has been steady throughout. SInce we are in the "top twenty" as defined in numerous tables in the study, we have not fared so badly. The fact that I earn essentially what I earned in 1990 pretty much describes the middle class squeeze. But we do ok by LBYM.
The really depressing facts in those tables are seen in the "bottom 40%" columns. I drive through some of the most depressed areas in Philadelphia a couple of times each month. There is no way out for people born into those environments which have been declining for more than 50 years.
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11-27-2012, 07:20 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,610
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Quote:
Originally Posted by target2019
imoldernu,
The really depressing facts in those tables are seen in the "bottom 40%" columns. I drive through some of the most depressed areas in Philadelphia a couple of times each month. There is no way out for people born into those environments which have been declining for more than 50 years.
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I take issue with the "no way out" comment.
There is always a way out, provided you are willing to find the door, and you do not wait until age essentially seals your fate.
I'll grant you that most will not find the way, but that does not remove the possibility.
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11-27-2012, 07:27 PM
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#16
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by JPatrick
I take issue with the "no way out" comment.
There is always a way out, provided you are willing to find the door, and you do not wait until age essentially seals your fate.
I'll grant you that most will not find the way, but that does not remove the possibility.
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Is it impossible? Clearly not. There are no legal barriers and there are always outlier-type people.
Statistically, there is no way out. How does the leg up get started in a depressed community these days? Mostly, it does not. I do not have a good solution or answer, but increasing income and wealth stratification as well as the "big sort" that has gone on (everyone has moved to enclaves where the locals look like you do) militate against mobility in US society.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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11-27-2012, 07:38 PM
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#17
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Recycles dryer sheets
Join Date: Jul 2008
Location: Sacramento area
Posts: 467
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From the great Rodney King: "Can we all get along together?"
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11-27-2012, 10:43 PM
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#18
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by imoldernu
Guess you are right... It doesn't matter.
Moderator... ok to close this thread. |
Well now that you have given your permission, I'm sure that they'll be right along to take care of it.
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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11-27-2012, 10:49 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 2,487
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__________________
Find Joy in the Journey...
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11-28-2012, 12:35 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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Thanks for posting. I found the article very interesting.
Quote:
Originally Posted by imoldernu
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__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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