--the average American household.
You're right though, the word 'average' has it's limits. iow, it screams "FOOD FIGHT!!!". The Fed just posts the totals and here's how it's broken down:
| (billion) | |
| Corporate equities | $12,885 |
| Mutual fund shares | $7,620 |
| Security credit | $893 |
| Life insurance reserves | $1,259 |
| Pension entitlements | $20,499 |
| Equity in noncorporate business | $9,188 |
(billion)
Corporate equities $12,885
Mutual fund shares $7,620
Security credit $893
Life insurance reserves $1,259
Pension entitlements $20,499
Equity in noncorporate business $9,188
Pension “entitlements” = future taxes/expenses = liability
This chart is a joke.
Here’s what it really should be:
$12,885 + $7,620 + $1,259 + $9,188 = $30,952
$30,952 - $20,499 = $10,453
So Americans hold net assets of $10 billion. That’s 1/5th of the stated total of $50 billion.
Is the expectation that future liabilities or taxes are simply going to come out of future income? At what point does that affect the underlying asset value?