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Americans have regained $13.5T of $16T lost during the recession, says Alan Krueger, the...

  • Tuesday, February 19, 4:16 AM ET
    Americans have regained $13.5T of $16T lost during the recession, says Alan Krueger, the chairman of the White House Council of Economic Advisers. "If you destroy that much wealth, people need to rebuild their retirement positions and they need to save for their children's educations," says Krueger. "That is a big challenge for consumption going forward."
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This news story has 5 comments:

  •  
    The WH numbers are quite dubious and seem to be self serving. However, in reading their calculations there is no adjustment for the dollar's devaluation...... Since 2006 the buying power has fallen a solid 15%... Today's 14,000 DOW is like comparing apples to oranges against 2007's DOW 14,000...........
    19 Feb, 05:23 AM Reply Like
  •  
    What? You expect them to include stuff that doesn't make the results look rosy? :-)
    19 Feb, 05:31 AM Reply Like
  •  
    Good point, but less rosy still, the clowns who flushed a quarter of America's wealth down the toilet in the first place.

    As for the WH, how do you think Mr "the economy is fundamentally sound" would have worked out?
    19 Feb, 07:48 AM Reply Like
  •  
    You guys are stuck in a gloom and doom loop. As Bill pointed out to you guys, it's just math. Major indexes are up 100% since 2009, so using your 15% (dubious) 85% of $16T? Yep $13.5T. We're talking about comparing gala vs granny smith
    here's an inflation link http://bit.ly/vkq0Nl
    19 Feb, 08:23 AM Reply Like
  •  
    I christen him: "The President of the 1%".
    19 Feb, 09:21 AM Reply Like
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