Brainless twat, complaining about how bad the economy is, net record US household wealth accretion was reported by the Fed just yesterday, up $10tril setting a new all time record high.
Where were you when they handed out brains titwad? Is there a roof over that tiny treehouse you live in out in the boonies? Or live in a dirt floored cave? In the hollow of a tree?
U.S. Household Net Worth Hits Record High
online.wsj.com
(Surging Stock Market and Rising Home Values Deliver Benefits, Especially for Affluent)
Americans' wealth hit the highest level ever last year, according to data released Thursday, reflecting a surge in the value of stocks and homes that has boosted the most affluent U.S. households.
The net worth of U.S. households and nonprofit organizations rose 14% last year, or almost $10 trillion, to $80.7 trillion, the highest on record, according to a Federal Reserve report released Thursday. Even adjusted for inflation using the Fed's preferred gauge of prices, U.S. household net worth—the value of homes, stocks and other assets minus debts and other liabilities—hit a fresh record.
The Fed report shows Americans have made considerable progress repairing the damage inflicted by the housing crash and recession, which ran from December 2007 through June 2009 and decimated the wealth of a wide swath of the nation. But the rebound, while powerful, has been tilted in a way that limits the upside for the broader U.S. economy and is increasingly leaving behind many middle- and lower-income Americans.
"Wealth inequality…has increased over time," said William Emmons, an economist at the Federal Reserve Bank of St. Louis. "So, there seems to be a disconnect: There are big wealth gains, but not much follow-through on consumer spending."
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