07-24-2011, 11:16 AM
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It's 42
Industry Role:
Join Date: Jun 2010
Location: Global
Posts: 18,083
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The Cost of the Financial Crisis: The Impact of the September 2008 Economic Collapse
The amazing part in this is the number of people that still back the failed policies that caused them this loss. They are much like the woman that goes back home to man the beat them up so bad they ended up in the hospital ...
Quote:
SUMMARY
U.S. households lost on average nearly $5,800 in income due to reduced economic growth during the acute stage of the financial crisis from September 2008 through the end of 2009.[1] Costs to the federal government due to its interventions to mitigate the financial crisis amounted to $2,050, on average, for each U.S. household. Also, the combined peak loss from declining stock and home values totaled nearly $100,000, on average per U.S. household, during the July 2008 to March 2009 period. This analysis highlights the importance of reducing the onset and severity of future financial crises, and the value of market reforms to achieve this goal.
[H]ome Values. The U.S. lost $3.4 trillion in real estate wealth from July 2008 to March 2009 according to the Federal Reserve. This is roughly $30,300 per U.S. household. Further, 500,000 additional foreclosures began during the acute phase of the financial crisis than were expected, based on the September 2008 CBO forecast.
Stock Values. The U.S. lost $7.4 trillion in stock wealth from July 2008 to March 2009, according to the Federal Reserve. This is roughly $66,200 on average per U.S. household.
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This wasn't a fucking it was a rape.
So, let's save the tax code and the current laws for our rapists so they can rape us again.
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