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Banksters Tighten Their Grip: Avg. Net Worth Falls 40% From 2007-2010
Net savings per household fell by 40% in only 3 to 4 years and average income fell 8%. Our "friends" at the not so Federal Reserve did us the favor of adjusting the figures for the inflation they created. But are those figures accurate? The Federal Reserve tells us that inflation is always at 2-4% annually. But an honest economist, like John Williams at ShadowStats.com, will tell you that, by the federal government's own formula of 30 years ago, inflation is more like 10-14% (and unemployment is over 20%). If we take the difference of about 10% inflation annually over 4 years, we've actually lost about 35% more purchasing power than Ben Shalom Bernanke's boys are letting on. And that's ON TOP of the 8% real decline in income.
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