Federal Reserve study points to disastrous financial state of US households

Report on the Economic Well-Being of U.S. Households in 2013 points to the precarious state of the majority of US households, who risk poverty or bankruptcy in the event of job loss, accident or unforeseen medical expense.

According to the report, nearly two-thirds of those under 45 did not have funds set aside to cover their expenses for a three-month period.

The survey helps expose the fictitious character of the economic “recovery,” which has supposedly been going on for five years.

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