The recent financial crisis left the median American family in 2010 with no more wealth than they had in the early 1990s, erasing almost two decades of accumulated prosperity, the Federal Reserve said Monday.
The median family, richer than half of the nation’s families and poorer than the other half, had a net worth of $77,300 in 2010, down from $126,400 in 2007, the Fed said. The crash of housing prices explained three-quarters of the loss.
Did a “bearish divergence” yesterday signal a top for the equity markets?
The Currency War Big Picture Analysis for Gold, Silver & Stocks
Markets Rally Early, It Has A Good Chance To Hold Up Today
Weak demand at the Italian bond auction is causing an uproar that the Euro Zone debt crisis is far from being over. Adding more fuel to the fire, we have an on-going bickering in the Euro Zone on how to proceed with the Greek bailout. Finland, Austria, the Netherlands, Slovenia and Slovakia are demanding collateral from Greece for more bailout funds.