Household net worth dropped by a staggering 35% in five years to 2010 as recession decimated economy

U.S. households saw their wealth drop by more than a third between 2005 and 2010 as home values and share prices plummeted.

The dramatic decrease over the five-year period- which included the recession that hit in 2008- left many families with weak safety nets to weather a harsh economic environment.

The median household net worth dived 35 per cent to $66,740 in 2010, the Census Bureau said in a report on Monday.

Staggering: [...]

Bloomberg Ignores Major Stock Market Fall in Europe

By DoctoRx of the Daily Capitalist, on September 5th, 2011

Stock markets fell very hard in Europe today, but if even Bloomberg.com doesn’t mention it, does that mean it did not happen or does not matter?

The Stoxx 50 index was down over 5%, as was the German DAX.  Yet the “Top News” headlines on Bloomberg as I write this are, in order:

Obama Addresses Union Labor Day Rally;

Darwin Effect [...]

Dr. Farrell: A huge crisis coming

by Dr.Benevolence

Paul Farrell provides ten worthwhile observations in his forecast of a coming banking crisis. Essentially, he argues against buying stocks in an environment where market indices are about 70% off their lows. He sees two stock markets in America – one for the rich and another for everyone else. He explains how Wall Street skims from Main Street, rigs markets, and [...]

UK FTSE, along with many other global stock market indices is riding on an over 28 month high, as US pumps money like there’s no tomorrow:

by LFM

http://www.bbc.co.uk/news/business-11691638
http://www.telegraph.co.uk/finance/markets/8109538/FTSE-100-hits-28-month-high-as-global-markets-rally-on-US-Federal-Reserves-QE2.html
http://www.bloomberg.com/news/2010-11-04/daimler-hochtief-celesio-intica-wilex-may-move-german-equity-preview.html

Commodity prices rocket:
http://www.dailymarkets.com/forex/2010/11/04/european-stocks-jump-on-commodities-fed-dax-gains-1-63/

Goldman Sachs and HSBC Bank states the US shall have to print much more money than they already have or that they have announced they will be doing in order to attempt to avoid a complete meltdown, but whatever they also state US dollar to tank:

http://www.telegraph.co.uk/finance/comment/jeremy-warner/8108660/Feds-600bn-gamble-risks-throwing-away-Americas-biggest-asset.html

http://uk.finance.yahoo.com/news/fed-s-600bn-gamble-risks-throwing-away-america-s-biggest-asset-tele-c1dc43daf5ac.html?x=0

Goldman Sachs’ Jan Hatzius says the US FED will not be just giving $600 Billion, but closer to $2 Trillion before 2012 [...]