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The Ed Show
Fed study shows middle class suffering the most
The Federal Reserve's Survey of Consumer Finances study shows the average American family's net worth dropped 38.8% between 2007 and 2010. The average family's net worth dropped from more than $126,000, to less than $78,000. The housing crash is largely to blame, since most middle class Americans measure their net worth by their home's value. Michael Eric Dyson discusses the latest with former Labor Secretary Robert Reich.