rhody
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WhoWee said:There were some reports yesterday calling the 25 - 34 year age group forced to move back in with their parents the "boomerang" generation. The comment was made in the discussion about the poverty level for a family of 4 being adjusted to $22,314. Please label this entire post IMO as I don't have a link to one of the interviews - the point was that if the "boomeranger" didn't live with their parents - one or the other or both might qualify as "poor".
WhoWee,
You are correct. I went back and reviewed the link, the information presented is speculative at best, and should be considered the author of the article's opinion, not to be taken as hard fact.
On to today's news:
http://www.marketwatch.com/story/why-consumers-cant-bail-out-the-us-economy-2011-09-15?pagenumber=2"
BOSTON (MarketWatch) — The dismal scientists are fond of saying that consumer spending accounts for two-thirds of the U.S. economy. And if that still holds true, the U.S. economy — jobs bill or not — is in for more dismal times.
Let us connect the dots: There’s the just-released Census Bureau report noting that median household income has fallen to $49,445 in 2010, some 7.1% below its peak in 1999. No income equals no spending.
Plus, there’s a new white paper suggesting that U.S. households still have far too much debt (and not enough income or liquid assets) to drive the economy in anything more than a modest way.
In fact, given the current and foreseeable state of household debt and income, gross domestic product growth over the next few years will likely appear anemic compared to pre-crisis growth rates, according to the BlackRock Investment Institute paper.
Rhody...
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