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12 December, 2011

Shocking Charts And Statistics That Prove That America Is No Longer A Wealthy Nation

Shocking Charts And Statistics That Prove That America Is No Longer A Wealthy Nation: "How do you decide whether you are wealthy or not? Do you determine that by how much money you spend at the stores? Of course not. You can tell if you are wealthy or not by comparing your assets (the money in your bank account, equity in your home, etc.) to your liabilities (your mortgage, credit card debt, student loan debt, etc.). Well, a lot of Americans seem to believe that just because a lot of money is circulating in our economy that it must mean that we are a wealthy nation. But that is simply not true. To tell whether or not America is a wealthy nation, you need to look at the balance sheet numbers. And when you look at the balance sheet numbers, a very sobering story emerges. Over the past three decades, government debt, business debt and household debt have absolutely exploded, but our assets have not. That means that we are getting poorer as a nation..."

1 comment:

  1. No longer wealthy? Why as long as we can borrow from the Chinese we are wealthy! Ha!

    Comparing today's America with the America that went into the Great Depression is sobering. Not only do we lack wealth, as we have all used our bubble-inflated home equity as an ATM, but we have more debt and unfunded entitlement programs that you can shake a stick at...

    It's going to be bad for those who lack basic survival skills, like gardening, canning, etc...

    ReplyDelete

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