Middle class people make just one nest egg in their lives. If they are lucky they have a little bit

[applegrove]

Last edited Tue Jun 12, 2012, 02:19 AM - Edit history (2)

more. Rich people make and remake many, many nest eggs over their lives. The bubble economy is only good for the richest Americans. It is not good for the middle class. Romney glosses over this fact when he talks about his ability to conduct business and steer the economy.

"Fed Says U.S. Wealth Fell 38.8% in 2007-2010 on Housing"http://www.bloomberg.com/news/2012-06-11/fed-says-family-wealth-plunged-38-8-in-2007-2010-on-home-values.html

[Skittles]

1. a lot of that lost weath went to the 1%

[applegrove]

2. Yup. It was a transfer of wealth to the 1%. You are correct.

[Raven]

3. I think a lot of it was in

declines in home values and losses in retirement account investments in the stock market.

[LiberalFighter]

4. They connive to siphone what everyone else earns and saves for themselves.

[hedgehog]

5. I heard that report and thought of the fact that

many of those nest eggs go to pay the first few months (sometimes only weeks) in a nursing home before the government picks up the remaining tab. As a society, we'd be better off allowing middle class families to pass their nest egg on to the kids. It might go for retirements or college bills.

[MatthewStLouis]

6. Oh come on! If you lose your nest egg all you have to do is sell off some of your stocks or

dip into your trust fund. That's what Mitt RMoney would tell you.