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Average Americans Getting Poorer

The Typical Household, Now Worth a Third Less - New York Times
By Anna Bernasek | July 26, 2014

Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too.

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower.

But during the same period, the net worth of wealthy households increased substantially.


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The article's author says the cause

is unclear. It couldn't be clearer: The cause is more government intervention, and, of course, especially the manipulations of the Federal Reserve.

End the Fed