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US Economic Crisis
US Economic Crisis
Simplifying Big Words and the Current State of the United States
Introduction
What is Quantitative Easing Did Quantitative Easing Work Why Did the Federal Reserve Do This A Ton of Charts on Income, Taxes, Wealth etc. Source: Federal Reserve Boards Federal Survey on Consumer Affairs and the US Census
To Limit the Number of Bonds Available The Fed Buys Them Back from the Bank
The Banks Sell the Bonds Back While Collecting More Fees
Yes The Banks Gave Up this Sweet Heart Deal... Hurting Shareholders
Net Worth 80%: $4.54 Net Worth 19%: $32.67 Net Worth 1%: $27.74
Increase in Incomes
From 1950 to 1980 the Bottom 90% saw an increase of 75% in incomeFrom 1980 to 2008 the Bottom 90% saw an increase of 1% or $303From 1950 to 1980 the top .001% saw an increase of 80% $2,419,070From 1980 to 2008 the top .001% saw an increase of 403% $21,904,289
Average Net Worth of the bottom 80% of households: $48,669.53 (7.1%)Average Net Worth of the top 1% of households: $23.77 Million Source: Federal Reserve Board Survey of Consumer Affairs
Tax Breakdown
Taxes in 1950 Taxes in 2008
Source: Population Reference Bureau US Labor Force Trends & US Census 2008