Skip to comments.U.S. household wealth above $80 trillion (record); boosted by stocks, housing
Posted on 03/06/2014 3:52:47 PM PST by Red in Blue PA
WASHINGTON (Reuters) - U.S. household net worth jumped to a new high at the end of last year, as the value of real estate and shareholdings rose and bank accounts swelled.
The Federal Reserve said on Thursday net worth increased $2.95 trillion to $80.66 trillion in the fourth quarter, eclipsing a previous record high.
The value of households' property, consumer goods, bank deposits and stocks all increased in the quarter.
(Excerpt) Read more at finance.yahoo.com ...
This is definitely a 2 track economy. A few are doing extremely well while the vast majority are suffering.
Pre-boomers and boomers, holding onto their savings and assets.
At least that amount in gov’t debt. The US is broke.
A little more than the Fed printed and the Government borrowed.
Better than I’d expect.
2008 showed us that stock holdings and housing holdings could be halved in no time flat.
So a record number such as $80T could easily be $40T in a few weeks given the proper circumstances.
The stock market wealth is an illusion. VASTLY overinflated value.
Paper wealth in stock and real estate thats been inflated by massive money printing
The number is meaningless, what it can aquire is what counts.
I wish I had seen that, considering the value of my property took another dive in value........
this is reportedly this first Obie had heard of this..and rumor has it that hes planning to use his Pen and Phone to confiscate the vast majority of same.
It’s actually “Household AND non profit organizations”. Don’t know what difference that makes, probably a lot.
That number seemed awfully high; it it includes NFP’s then that would explain alot.
Congratulations America! You are really rich! on paper that is......
Allllllllriggggghhhhhh!! Wooo Hoooo!!!!!!
LOL!What a joke!Everyone has been slammed and Reuters is doing dirty deeds for someone.
I agree. It definitely seems the rich are getting richer and the poor are getting poorer. And the middle class is disappearing.
I don’t understand where people are getting the money to go to Beyonce concerts and football games. I can’t even afford to go to a college game.
it’s amazing how many inches you can squeeze into a foot when you shrink the inch
IOW, the dollar is shrinking driving everything measured in dollars up.
this is not due to a strong economy but an accounting trick. it would be due to a strong economy if gold were down and the value of things were up
your DU is showing
Don’t tell o. He’ll borrow against it. Oh wait, the left has already done that. Unfunded liabilities $128 billion.
Why? Because he told the truth about the lousy economy?
We wish, that $128 TRILLION.
Why? It is a lousy economy for the vast majority of Americans. How is telling the truth esposing his DU as you claim?
Media-suppressed quote from the report: "Federal government debt rose at an annual rate of 11.6 percent in the fourth quarter of 2013"
Well, no one asked me. They would have gotten a decidedly different response. I’m broke.
I know it's anecdotal but I live in one of the most prosperous areas of the country and just got my real estate assessment. It went down.
In other news, a boxcar of Monopoly money derailed shortly after leaving the Fed as it headed for the NY stock exchange.
According to CNN ANALysts, this could “derail” the blossoming Obama recovery. Fortunately, it wouldn’t be Obama’s fault that Bush didn’t maintain the railroads.
commiies and marxists have a class based, rich vs poor, mentality. not Americans
might I suggest watching this commercial and start to understand what it means to be an American. whine somewhere else
6 mar WSJ:
The median net worth of American adults is now one of the lowest among developed nationsless than $45,000, according to the Credit Suisse CSGN.VX +1.32% Global Wealth Databook. That compares with approximately $220,000 in Australia, $142,000 in France and $54,000 in Greece. Almost a third of American adults have a net worth of less than $10,000
Who is whining?
People are pointing out the fact that the unemployment in this nation is horrible. I suppose that is unpatriotic to you. You can take a long walk off a short pier.
unemployment? was that mentioned once in this page? no
if you’re whining about unemployment... get over it. if your skills were truly valuable enough for customers to pay for, then you could open your own shop. not to mention, any skills truly worth it could easily undercut at least the worst currenty employed in that job.
and if your skills suck or aren’t in demand, use the time you’re unemployed to develop new ones.
you make your own luck. stop trying to blame it on ‘the rich’
Where was I trying to blame the”rich”? Please point it out.
You sound like an ass and I hope you have to go through difficult times one day. It is people like you who deserve it. Certainly not a conservative.
you responded in defense of his ‘rich getting richer’ post. obviously puts you in the camp
as for me, im not a conservative? because I don’t whine about circumstances and work to change my fortunes? if being conservative means I must stand outside waiting for mana from heaven instead of working towards a better future, then you got me.
I can feel bad for others that are on hard times... but at no time does it benefit them to coddle them and encourage the ‘rich did this to you’ attitude. that’s the fertilizer of commies and marxists.
btw, you realize conservatism is just a slow adoption of current political direction, right? its incrementalism. it will eventually end up in the same place. which explains how today’s moderate right is left of JFK
Riiiight. It takes a Communist to even notice that the paper mâché stock bubble caused by the Federal Reserve moving decimal points on flat screens might even be a problem. It is Marxist for a Freeper to even comment on the lack of disposable income these days, especially since the BLS numbers on inflation are so truthful and accurate. Come to think of it, I did think I could spy Che Guevara t-shirts underneath the Savile Row suits worn by traders last week......I always suspected they were closet Leninists myself. I am glad you have caught on as well. Hopefully, more people will notice these Pinkos and call them out. And that Wall Street Journal too, they have published similar heresies....I hear the editorial board is rumored to read Vladimir Mayakovsky poetry on their lunch hour.
“I cant even afford to go to a college game.”
The Ohio Univ. bobcats have season tickets for about 30 dollars. The team is actually are not all that bad either.
Of course the Ohio State Univ. Buckeye tickets will cost 80 dollars for a single game.
“The stock market wealth is an illusion. VASTLY overinflated value.”
Even worse, the relationship between the stock market’s performance and the standard of living for Americans has changed drastically. Today the best way to drive up a stock’s value is to lay off thousands of American workers and replace them with Asian coolies (or machines). Any news of layoffs in the US is followed by an increase in stock price.
“if youre whining about unemployment... get over it. if your skills were truly valuable enough for customers to pay for, then you could open your own shop. not to mention, any skills truly worth it could easily undercut at least the worst currenty employed in that job.”
Too many people did everything right (job training/education, etc.) and still had the rug pulled out from under them by outsourcing and immigration; they can’t compete with billions of Asian workers (many educated right here in the US) or the mass immigration we allow without a significant drop in standard of living.
If you maintain your position, expect an Obama clone to win in 2016; people who played “by the book” are tired of getting screwed, and while the Dems have no answers the Republicans will lose without some.
You believe the middle class is disappearing. You believe unemployment numbers are higher than reported. You believe less people are in the workforce. But you don’t believe the rich are getting richer and the poorer are getting poorer?
I don’t think accepting the truth makes anyone a communist. The solution is to get the government off the backs of small businesses and repeal NAFTA.
I think you meant to sent your post to Freeper “sten” instead of me. I agree with you.