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U.S. household wealth above $80 trillion (record); boosted by stocks, housing
Yahoo Finance ^

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 ...


TOPICS: News/Current Events
KEYWORDS:

1 posted on 03/06/2014 3:52:47 PM PST by Red in Blue PA
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To: Red in Blue PA

This is definitely a 2 track economy. A few are doing extremely well while the vast majority are suffering.


2 posted on 03/06/2014 3:53:23 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

Pre-boomers and boomers, holding onto their savings and assets.


3 posted on 03/06/2014 3:54:33 PM PST by lurk
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To: Red in Blue PA

At least that amount in gov’t debt. The US is broke.


4 posted on 03/06/2014 3:57:59 PM PST by VRWC For Truth (Roberts has perverted the Constitution)
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To: Red in Blue PA

A little more than the Fed printed and the Government borrowed.

Better than I’d expect.


5 posted on 03/06/2014 4:00:40 PM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: lurk

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.


6 posted on 03/06/2014 4:01:16 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

The stock market wealth is an illusion. VASTLY overinflated value.


7 posted on 03/06/2014 4:01:23 PM PST by Bryan24 (When in doubt, move to the right..........)
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To: Red in Blue PA

Paper wealth in stock and real estate thats been inflated by massive money printing


8 posted on 03/06/2014 4:02:37 PM PST by 4rcane
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To: Red in Blue PA

The number is meaningless, what it can aquire is what counts.


9 posted on 03/06/2014 4:03:47 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: Red in Blue PA
....as the value of real estate and shareholdings rose and bank accounts swelled.

I wish I had seen that, considering the value of my property took another dive in value........

10 posted on 03/06/2014 4:04:59 PM PST by Gabz (Democrats for Voldemort.)
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To: Red in Blue PA

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.


11 posted on 03/06/2014 4:11:34 PM PST by MeshugeMikey (Jesus came to Save not Entertain / Ground John Kerry Now!)
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To: Red in Blue PA

Report: http://www.federalreserve.gov/releases/z1/current/z1.pdf

It’s actually “Household AND non profit organizations”. Don’t know what difference that makes, probably a lot.


12 posted on 03/06/2014 4:19:00 PM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: mrsmith

That number seemed awfully high; it it includes NFP’s then that would explain alot.


13 posted on 03/06/2014 4:21:06 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA; Bryan24

Congratulations America! You are really rich! on paper that is......

Allllllllriggggghhhhhh!! Wooo Hoooo!!!!!!

Hey......what the???????


14 posted on 03/06/2014 4:22:04 PM PST by SkyPilot
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To: Red in Blue PA

LOL!What a joke!Everyone has been slammed and Reuters is doing dirty deeds for someone.


15 posted on 03/06/2014 4:27:08 PM PST by plainshame
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To: Red in Blue PA

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.


16 posted on 03/06/2014 4:30:12 PM PST by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
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To: Red in Blue PA

Bubble economy.


17 posted on 03/06/2014 4:31:49 PM PST by VRW Conspirator ( 2+2 = V)
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To: lurk

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


18 posted on 03/06/2014 4:33:10 PM PST by sten (fighting tyranny never goes out of style)
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To: VerySadAmerican

*psssst*

your DU is showing


19 posted on 03/06/2014 4:36:27 PM PST by sten (fighting tyranny never goes out of style)
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To: Red in Blue PA

Don’t tell o. He’ll borrow against it. Oh wait, the left has already done that. Unfunded liabilities $128 billion.


20 posted on 03/06/2014 4:42:42 PM PST by Linda Frances (Woe to those who call evil good and good evil, who put darkness for light and light for darkness.)
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To: sten
your DU is showing

Why? Because he told the truth about the lousy economy?

21 posted on 03/06/2014 4:43:29 PM PST by SkyPilot
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To: Linda Frances

We wish, that $128 TRILLION.


22 posted on 03/06/2014 4:43:40 PM PST by Linda Frances (Woe to those who call evil good and good evil, who put darkness for light and light for darkness.)
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To: sten

Why? It is a lousy economy for the vast majority of Americans. How is telling the truth esposing his DU as you claim?


23 posted on 03/06/2014 4:44:38 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA
After looking I can't find a breakdown of household wealth and non-profit wealth.
Weird.

Media-suppressed quote from the report: "Federal government debt rose at an annual rate of 11.6 percent in the fourth quarter of 2013"

24 posted on 03/06/2014 4:46:56 PM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: Red in Blue PA

Well, no one asked me. They would have gotten a decidedly different response. I’m broke.


25 posted on 03/06/2014 4:56:45 PM PST by ilovesarah2012
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To: Red in Blue PA
The value of households' property, consumer goods, bank deposits and stocks all increased in the quarter.

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.

26 posted on 03/06/2014 5:00:07 PM PST by HarleyD ("... letters are weighty, but his .. presence is weak, and his speech of no account.")
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To: Red in Blue PA

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.


27 posted on 03/06/2014 5:03:35 PM PST by ChildOfThe60s ((If you can remember the 60s.....you weren't really there)
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To: Red in Blue PA; SkyPilot

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

http://www.youtube.com/watch?v=qGJSI48gkFc


28 posted on 03/06/2014 5:04:15 PM PST by sten (fighting tyranny never goes out of style)
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To: Red in Blue PA

6 mar WSJ:
The median net worth of American adults is now one of the lowest among developed nations—less 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

6 mar WSJ
http://online.wsj.com/news/articles/SB10001424052702304610404579401613007521066?mod=ITP_opinion_0&mg=reno64-wsj


29 posted on 03/06/2014 5:17:43 PM PST by DUMBGRUNT
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To: DUMBGRUNT
Wow!
30 posted on 03/06/2014 6:05:04 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: sten

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.


31 posted on 03/06/2014 6:06:34 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

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’


32 posted on 03/06/2014 6:11:26 PM PST by sten (fighting tyranny never goes out of style)
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To: sten

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.


33 posted on 03/06/2014 6:12:54 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

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


34 posted on 03/06/2014 6:23:33 PM PST by sten (fighting tyranny never goes out of style)
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To: sten; VerySadAmerican; Red in Blue PA
commiies and marxist

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.


35 posted on 03/06/2014 6:31:47 PM PST by SkyPilot
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To: VerySadAmerican

“I can’t 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.


36 posted on 03/06/2014 7:58:50 PM PST by staytrue
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To: Bryan24

“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.


37 posted on 03/07/2014 3:51:44 AM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: sten

“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.”

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.


38 posted on 03/07/2014 3:55:13 AM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: SkyPilot

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.


39 posted on 03/07/2014 7:50:56 AM PST by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
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To: VerySadAmerican

I think you meant to sent your post to Freeper “sten” instead of me. I agree with you.


40 posted on 03/07/2014 2:53:12 PM PST by SkyPilot
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