America Recoups 98% of Recession Losses – BULLSHIT!!!
Today’s Fed report that proclaimed American households reclaimed 98% of their losses incurred during the great recession that started in 2007-8 is more of Obama’s bullshit.
Yes, the stock market is at a new high and yes home prices are gradually recovering, but I would have to say this is probably the biggest lie ever put out by our government since the Warren Report on the assassination of JKF.
What the report fails to say is that most individuals jumped out of the market in 2007-8-9 and felt there was no need in jumping back in since the fundamentals were lacking, and they were right. Their 401-K’s are still in cash and still near the 2008-9 value. Retail stock investors have been sheepish over jumping back in for years now. The low market volumes have been proof of this. Is the Fed counting this, no of course not!
As for the recovery of home values, let’s get real. Millions have lost their homes and jobs and the way things are going millions more will in the near future.
It could be said that this report is the most insensitive irrational garbage that’s void of rational thinking. Yes the stock market is up and yes housing prices are up but most of America missed the stock market surge and a huge portion of Americans are now out of their homes and jobs.
Millions of middle class Americans have slipped through the cracks into poverty while the Fed masks it with a fake recover and a President that doesn't give a dam about anyone but himself. – N.P.Contompasis