http://www.cnbc.com/id/47774877

“A hypothetical family richer than half the nation’s families and poorer than the other half had a net worth of $77,300 in 2010, compared with $126,400 in 2007, the Fed said. The crash of housing prices directly accounted for three-quarters of the loss.”

Housing prices account for only 3/4ths of the loss.

In this era of the rich getting richer and the poor getting poorer, and the middle getting poorer, in fact everyone but the rich getting poorer, we need some statistics to convince us how much better off we all are.  In fact, the books are about the only thing left to cook for many folks, the pantry being as empty of food as a Conservative’s heart is of compassion.

I’m thinking that this brand of capitalism is working very, very well for the power structure, the mega-wealthy, the mega-banks and the mega-corporations.  And that’s why it’s allowed to continue.

If it weren’t working for those folks it would have been changed.

For most of us, hang on.  It’s a long, long slide down.  Clearly we can never get back to where we were, globalization will take care of that.  But we’re going to have to slide alone.  The gated communities will watch, we are NOT all in this together.