Block, Siteadmin, SkipCaptcha, Upload, Automoderated users, delete, edit, move, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, protect, rollback, Administrators, template
295,144
edits
Changes
Jump to navigation
Jump to search
Line 9:
Line 9: + +
no edit summary
In October 2022 the ''[[New York Post]]'' reported: "Since the start of this year, 401(k) plans have suffered $2.1 trillion in losses…The average 401(k) plan had over $135,000 at the start of this year. Today, those assets have shrunk on average to about $101,000…In other words, the average 401(k) plan is down about $34,000 — more than 25% in less than one year!...In terms of purchasing power, inflation also has brought the “real value,” in 2021 dollars, of the average 401(k) down another $5,000, from $101,000 to $96,000...More traditional pension funds also are getting flattened by inflation...At the beginning of this year, pensions in the US had $27.8 trillion in assets…Now, it’s under $24 trillion, a drop of about 15% that has wiped out the last two years’ worth of gains — nearly $4 trillion”.<ref>https://nypost.com/2022/10/16/average-american-is-losing-34k-and-everything-else-on-bidens-watch/</ref>
In October 2022 the ''[[New York Post]]'' reported: "Since the start of this year, 401(k) plans have suffered $2.1 trillion in losses…The average 401(k) plan had over $135,000 at the start of this year. Today, those assets have shrunk on average to about $101,000…In other words, the average 401(k) plan is down about $34,000 — more than 25% in less than one year!...In terms of purchasing power, inflation also has brought the “real value,” in 2021 dollars, of the average 401(k) down another $5,000, from $101,000 to $96,000...More traditional pension funds also are getting flattened by inflation...At the beginning of this year, pensions in the US had $27.8 trillion in assets…Now, it’s under $24 trillion, a drop of about 15% that has wiped out the last two years’ worth of gains — nearly $4 trillion”.<ref>https://nypost.com/2022/10/16/average-american-is-losing-34k-and-everything-else-on-bidens-watch/</ref>
Try as they may, Biden's economic advisers and the [[mainstream stream]] could not hide the rising [[Misery Index]] as the [[2022 Midterm]] elections entered the final stretch; inflation was reported at 8.2% and [[unemployment]] rose 306,000 people to a total of 6.1 million or 3.7%, bring the Misery Index to 11.9%.
==See also==
==See also==