

US economy shrinks by USD1.3T - sahaj
http://money.cnn.com/2009/06/11/news/economy/Americans_wealth_drops/index.htm?section=money_topstories

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johnnybgoode
Most of this "decimated" wealth never existed in the first place. Why do
people pretend otherwise? So they can throw around big numbers in a silly
article?

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jnorthrop
While the number does represent "paper" wealth, it is a fair measure of
purchasing potential. For example if you have $1m in stocks, at that point in
time you can sell the stocks and buy $1m worth of goods. If that number drops
to $500k then you only have the ability to purchase that value.

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Dilpil
Lets not post links to cnn anymore. They tend to be misleading, and rarely
involve more than surface analysis of the situation. The statistics involved
are often either inaccurate, irrelevant, or both. The methodology used to
create the statistics is rarely (if ever) stated. I'm sure we can find a
better source for economic news.

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kierank
The title of this post is misleading. It implies GDP has falled by 1.3T
whereas wealth in this case has fallen 1.3T.

