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Politics : Ask Michael Burke

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To: Exacctnt who wrote (72579)	12/31/1999 9:24:00 AM
From: Oblomov	Read Replies (1) of 132070

The $1000 is net financial assets, so it is the net of all savings/investments, and unsecured consumer debt. $35000 is the median net worth, which includes the value of real estate and personal property (car, etc.) I agree that these types of figures can be easily skewed to fit one's purpose, but if anything, it seems to me that a company such as Primerica (one of the companies that commissioned the study) would want to skew the figures to show that Americans are not overburdened by debt. If I were to look around at my friends and acquaintances, these conditions would seem contrary to fact. But the prosperity enjoyed by myself and my well-educated associates is simply not trickling down to the working class. See the Business Week/Harris poll in the Dec 27 Business Week: businessweek.com Much like the way in which the indices have been rising while the typical stock has been falling since last year, the economy is booming while the typical person is no better off than before. Welcome to the New Economy. (To open the previous link, you need the Adobe Acrobat Reader plug-in for your browser)

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