http://www.zerohedge.com/news/guest-post-its-dead-man-walking-economy"My friend Frank Trotter, president of EverBank, was just telling me that the net worth of the median US citizen is only $6,000. That's the median, meaning that half of the people have less than that. Most people don't even have enough stashed away to buy the cheapest new car without going into debt. It used to be that people bought cars out of savings, with cash. Now they have to finance them over at least five years… or lease them – which means they never ever have even that trivial asset, but a liability in the form of a lease.
The bulk of the 49 percent below this guy don't even have that – with the concentration of wealth among the top one percent, most of those below average have seriously negative net worth, at least compared to their earning capacity. In other words, the US, Europe, and other so-called First-World countries are in a wealth-liquidation cycle that will be as profound as it will be protracted."
http://www.youtube.com/watch?v=0lbilqo7LxQ"This isn't the land of the free and the home of the brave -- that's all bullshit."
"So many of the people who run this country are either knaves or fools, in other words, are you dealing with someone who is evil or stupid? Are you dealing with a Dick Cheney or a George Bush?"
