Heard an interesting report on the radio today - - American household net worth has dropped to $ 56 Trillion. Remember that includes everything including peoples homes, bank accounts, investments, etc. http://www.fundmasteryblog.com/2008/06/06/56-trillion-american-net-worth/ (Note that this figure is based on pre-bail out numbers.) I also watched a video recently with an interview of a former U.S. Comptroller General - - http://www.youtube.com/watch?v=msPb565gLso&feature=related He stated that the actual Federal debt including off book obligations (Soc Sec, Medicare, etc, etc) is $ 56 Trillion Nothing new of course, but ain't that wonderful ? We are collectively . . . flat broke. And, because it doesn't include the bailouts or proposed massive government spending, and the further decline of the real estate market since the report was done in June - - its likely to be worse now & get even worse in the future. (Theres a link to more current govt data in the article above.) Is it any wonder that some politicians, business people, union people, etc are grabbing all they can while they still can ?