Bloomberg reported yesterday: “Household Net Worth in U.S. Increases by Most Since 2004”.
The article would have us believe that all is getting better. See:
Wrong. What it fails to tell the reader is that for the 3rd quarter of 2011: “Net worth for households and non-profit groups decreased by $2.45 trillion to $57.4 trillion, the Federal Reserve said today in its flow of funds report from Washington. Americans reduced debt in the third quarter, extending a string of declines dating back three years”.
If you only read the first article, the mainstream media (MSM) would give you the perception that things are getting better. Is it poor reporting or is there some mandate to make us think that things are better than they truly are? Bloomberg wrote both articles. You be the judge.