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3.28 assignment - Means 1 Andrew M Means 28 March 2011...

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Means 1 Andrew M. Means 28 March 2011 Plattner The Market Oracle: “The near-delirious optimism that followed the 2008 presidential election has fizzled in less than 12 months. While the policies of the Obama administration have improved Wall Street's prospects for record profits and lavish bonuses, ordinary working people continue to fight to keep their jobs and maintain their standard of living. Recent data show that household debt which surged during the boom years is being pared back at a historic pace. Household debt to disposable income has plummeted from 136 percent to 122 percent in a little more than a year, leaving many families with little to spend at the malls or shopping centers.” Paraphrased Response According to The Market Oracle, the economy still seems to stay in recession. While the Obama administration have put the rich, upper-class citizens in great position to improve their profits, middle class citizens are struggling to keep their home, job, and finances. Stats backup this statement as disposable income has dropped 14 percent in a little more than a year. Needless to say, families have been cutting back on luxuries.
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