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After 11 Quarters In A Row, US Households See Net Worth Tumble $141 Billion In Q3
US Household net worth dropped $141 billion in Q3 2014 after rising non-stop on the heels of various QE-inflated stock and real-estate prices for 11 quarters in a row. Mrs. Chairman, get back to work...
Charts: Bloomberg
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"Winning",
This is very much the land of opportunity, but only if you commit to roll the motherfucking ...
(come on you all know the words...)
Who were they?Those that lost. Can´tw e get a break-down by investment class. That would be more helpful than these generalizations.
Agreed, Thom. Q3 was a modest down-quarter for most mom & pop investors, but still, that doesn't seem like the only thing underlying that net worth number.
Maybe they're counting the value of the gasoline in their car's fuel tank in that "Net Worth" calculation.
Yes,but from a traders view the euphoria of a less than worst scenario will cause short covering.The jury will be out until the march reports, but the LULU + retail numbers are what people will argue until the boxing day domestic spending numbers come in.
On a different note, I find it amusing that old media is blaming the recent editorial driven journalism and collapsing subs/clicks on the rapid user generated content sites like Buzz (and ZH).
http://www.wsj.com/articles/edward-kosner-cuckoo-journalism-for-a-tweeta...
Guillotines!!!
Green Shoots-Not
More to come especially with home prices dropping coupled with 401K /IRA dollar valuation
But, but... stawks are at all time highs!
isnt that unpossible? im scratching my nuts here trying to figure out how net worth drops as stocks hit new all time bubble highs????
Inconceivable!
Now what is the median vs the average? How about excluding the top 1% of households? I bet the picture looks rather different.
"Net worth" = what you think you have that will be taken away from you.
How about the net worth of the FED, it must be at an all time high with all the bonds and stocks it owns. We the people are members of the FED and thus are sharing in their good fortune, or are we?
Falls right in line with this:
http://www.foxbusiness.com/economy-policy/2014/12/11/solid-us-retail-sal...
probably because the value of their vehicles fluctuate with gas prices and how full the tank happens to be
I measure my net worth by how many handsaws, axes, bows and arrows, fertile seeds, garden tools I own...that = wealth.
suddenly, Mrs. Pareto has been talking about accumulating stockpiles of survival stuff - out of the blue - we weren't talking about anything and then suddenly out of nowhere she has this list of things we ought to be thinking about. I asked her what motivated all this? She said, "I don't know - just got this feeling". Well, call it what you want, a woman's intuition - but - its something that i have learned over the years - that you don't ever fuck with.
Thank you Dear Leader Obama, and your fellow socialists, for drastically escalating the strangulation of people, businesses, and the economy with extreme regulation and government takeovers of the private sector (who pay for said government, by the way).
"A mere flesh wound".
My folks decided to preserve their spare cash in RE, rather than risk it in stocks or gold.
Something about utility, counterparty risk and ROI of stocks and gold.
The loss of $141 billion is meaningless unless we know how much of that was lost by the top 1% .
Me thinks the bottom 90% lost most of it.
... once another great outcome from the duplicitous divisive arrogant corrupt incompetent narcissistic illegal indonsian Kenyan alien muslim sociopathic pathologic liar in chief fudgepacker in chief only interested in its 2 grand per night suite at the G-20 and its over privileged, opulent celebrity grand imperial golf life style on the backs of tax paying US citizen serfs and peasants...
... once another great outcome from the duplicitous divisive arrogant corrupt incompetent narcissistic illegal indonsian Kenyan alien muslim sociopathic pathologic liar in chief fudgepacker in chief only interested in its 2 grand per night suite at the G-20 and its over privileged, opulent celebrity grand imperial golf life style on the backs of tax paying US citizen serfs and peasants...
Well at least the trucking industry will save on diesel. This will seem nice until they realize all they have been moving for the last 7 years is oilfield equipment and supplies. What a cluster.
What does that chart look like if you remove the 1%?
Happened to me as I spent the last year rotating out of greenbacks and into firearms and ammunition. Those prices have taken a dump as the human cattle are going back to sleep. But my assets are much better at fending of FSA and jack boots than CDs or cash.