SOURCE: ECONOMY WATCH
A study by economists at the University of Michigan for the Russell Sage Foundation showed that, in 2013, the median American household saw its total assets fall by 36% from 2003. Over the same time period, the total wealth in the United States grew by over 80%.
America is richer than it has ever been in human history, according to a study by the Federal Reserve.
According to the Federal Reserve’s measurement of households and nonprofit organizations’ total assets (HNOTASQ027S), American total wealth per person soared to over $309,000 by September 2014, up over 38% from its post-crisis low in 2009.
In total, Americans own over $95 trillion in assets. Over 70% of those holdings are financial assets held in instruments likecommon stock, bonds, and other asset-backed securities.
Average American’s Share Falls
While America as a whole is getting wealthier, the average American’s share of those assets is declining. Despite a near doubling of total wealth in America over the past ten years, the typical American’s net worth has actually fallen by over a third.
Read More...
America is richer than it has ever been in human history, according to a study by the Federal Reserve.
According to the Federal Reserve’s measurement of households and nonprofit organizations’ total assets (HNOTASQ027S), American total wealth per person soared to over $309,000 by September 2014, up over 38% from its post-crisis low in 2009.
Average American’s Share Falls
While America as a whole is getting wealthier, the average American’s share of those assets is declining. Despite a near doubling of total wealth in America over the past ten years, the typical American’s net worth has actually fallen by over a third.
Read More...
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