Going down…

…faster than a…uh…ok who can give me a good and humorous analogy?

Every single working day in the month of December 2008:

  • 190 U.S. companies filed for Chapter 7 or Chapter 11 bankruptcy protection
  • 4,950 Individuals filed for bankruptcy protection
  • 3,100 Homes went into foreclosure
  • 26,190 Jobs were lost and 25,035 workers filed for unemployment insurance
  • For the year 2008, the $6.9 trillion in lost stock market value among 110 million households represents a per household loss of $62,727. The $6 trillion in lost residential real estate property value nationally in 2008 adds $54,545 per household for a total of $117,272 in lost household asset value in 2008, exceeding by 27% the national household median net worth in 2007 of $86,000. (Losses were concentrated in the middle quintiles aka “the middle class.”)

Sweet titty-fucking Cheezus…

(h/t kevin)