Higher income people like Buffett or Gates will skewer the median net worth figures up. That chart is worthless. The rich are getting mega richer and the middle class is ho hum. Show me a chart that shows increases in average net worth of middle class flyover families.
OMG! STFU!
Havoc, is that you? LOL!
No, they won't. They'll skew the AVERAGE net worth up, but not the median (which is why the median is used instead of the average).
If you have 5 people in a group and every one of them has a net worth of $1 million, then the average net worth is $1 million and the median net worth is $1 million. If you have four people with a net worth of $1M apiece and one has a net worth of $1 billion, then the average net worth is over $200 million but the median is still $1 million.
The median value in any group is the "middle" number (i.e., the value with 50% of the population above it and 50% below it).
Mean and median net worth numbers are up. Real income and real per-capita consumption is up. Employment is up, manufacturing is up, the stock market is up, exports are up, interest rates are down, inflation is moderate and the US still leads the world in just about every area of technology. I'm sorry you're sucking hind tit in spite of all this good news and opportunity.
Debating you is worthless since you don't understand the information given to you nor do you ever offer any of your own to support your ridiculous assertions. Perhaps you should have stayed at LP instead of coming back here as a doomer retread.
Median net worth is not skewed by people like Bill Gates. Median net worth is more skewed by the people that live off the gov't dole to the negative. MEAN net worth is skewed by Buffett/Gates.
Back to math class for you.
Don't you love some of these 2007 threads? LOL!
I will admit I made on error on the Buffet/gates part. The second part I'm correct on. The household net worth charts were/are worthless. They don't show the breakdown in increases in net worth across income levels.
I will admit I made on error on the Buffet/gates part. The second part I'm correct on. The household net worth charts were/are worthless. They don't show the breakdown in increases in net worth across income levels.