wealth destruction

The Ugly Truth About American "Wealth"

Mon, 09/29/2008 - 10:04am — chicago dyke

Exactly. Why do I have to read this in an Asian paper, and not a US publication? Nevermind..

Leverage is the secret of American wealth. The average American family in 2004 had a net worth of US$448,000 on an income of $43,000, according to the Federal Reserve's survey of consumer wealth. Wealth equaled 10.4 years worth of income. In 1989, the Fed survey shows, it was only 7.3 years of income, and just 3.8 years worth in 1962. Measured in years, why should the ratio of Americans' net worth amount to annual income have tripled between the administrations of John F Kennedy and George W Bush?

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Per capita health care spending (2007):

United States: $7290
Switzerland: $4417
France: $3601
United Kingdom: $2992
Average of OECD developed nations: $2964
Italy: $2686
Japan: $2581

-- Bob Somerby

The text of HR676 (Medicare For All) as PDF (30 pages). The FAQ. Compare HR3200 with HR676.

Medicare for All would save $350 billion a year (study in New England Journal of Medicine).

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* Medicare For All.

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13:57:03 brucedixon I think my colleague Glen Ford is writing on it this week in BAR so I will just co-sign whatever he says.
22:03:36 Valley Girl I'd sure like Bruce Dixon's take on the Conyers comments. Just emailed him.
21:03:43 lambert Thanks, Jeff.
18:16:03 Jeff W lambert, I wrote to NOW about that Elizabeth Warren video not playing and got a response of sorts back, which I sent to you as a private PM. Just FYI.
02:28:28 hipparchia the first thing they told us my volunteer training: humans are natural born rescuers.
00:18:34 lambert One more study... [url]
23:57:37 lambert Joe Bageant is god. [url]
01:00:54 lambert The actuary was a whistleblower under Bush, too. [url]
00:47:48 hipparchia that's ok, jason stands ready to help smear the actuary quoted in that wapo article [url]
23:16:16 lambert Elders under the bus on Medicare, naturally. [url]
20:11:01 lambert 19:49:09 +100
20:10:18 lambert Capitalism in a world where we will throw as many taxpayers under the bus as necessary....
19:49:09 hipparchia elizabeth warren for president!
02:24:14 Jeff W Elizabeth Warren on the economy on PBS's NOW: you can watch it online here: [url] "If [Congress] gets it wrong, the country we knew is gone."
17:52:53 Davidson So, of course they're not going to show the truth about boxing her in from the beginning.
17:51:57 Davidson Yeah, that was just a comment in general, like, "Not even the RBC decision warranted scrutiny."
15:38:02 lambert That's not the RBC meeting, though. That's the smoking gun, beyond "Smart politics" (Wolfson).
14:17:16 Davidson Notice how everyone still avoids exposing the RBC decision
14:16:04 Davidson Can someone do a post on this? [url]
10:04:26 lambert Jeff, thanks. Fixed.