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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: GraceZ who wrote (78112)	1/25/2007 1:33:48 PM
From: forceOfHabit	Read Replies (2) of 110194

Grace, I couldn't be bothered to wait for you to supply some support for your assertion that: Having a net worth of $5,000 puts you ahead of 98% of the world's population. Google "household net worth". The first link that comes up is www.census.gov/prod/2003pubs/p70-88.pdf. Read it. Admittedly its only for the US in 2000, but they come up with 104 million "households" with a median net worth of $55,000. So that's 52 million households with a net worth exceeding $55,000 (10x greater than the $5,000 you mention). Lets guesstimate that the average household contains 2.0 people (for the actual definition, read the pdf). That gives us over 100 million people (each having average net worth greater than $27,500), just in the US who have a net worth exceeding $5,000. 2% of approx. 6 billion people is 120 million. We haven't even started to count the Europeans with over $5,000 net worth. I hereby call bullshit on your initial claim. Feel free to provide evidence to the contrary. foh

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