Quote of the Day

"Ownership Society Watch: The new Survey of Consumer Finances shows an increase in family net worth between 2004 and 2007—but estimates, based on stock and housing prices, that all of that gain and more has been wiped out since then. Adjusted for inflation, families are poorer now than they were in 2001. It's worth pointing out that with this release, yet another pillar of the what-me-worry school of economics has fallen. You may remember that a few years ago there was a lot of talk about how only bubbleheads paid attention to our low, low savings rate, because the truth was that Americans were getting steadily wealthier thanks to rising asset values. Not so much, it turns out."Paul Krugman, Nobel Prize-winning economist, whom I recently saw on Meet the Press, being talked over by a four journalists and some random douchebag I can't recall during a discussion about the economy, as if their opinions were just as valuable as his, because America has decided there's no such thing as experts anymore.

And look where that's gotten us.

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