Data Point – Private America is rather rich but….

by Skip

Americans’ Net Worth Hits $94.8 Trillion, Up 1.4% in First Quarter of 2017

In the first quarter of 2017, Americans’ net worth hit $94.8 trillion, which was up 1.4 percent, the Associated Press reported. According to the Federal Reserve, stock and mutual fund portfolios increased by $1.3 trillion in value and home values were up $499 billion.

Before the recession, which began in December 2007, household net worth stood at about $66.5 trillion. Household net worth has greatly increased since then.  “Record-high stock prices are the primary driver of greater household wealth,” the article states. “The Dow Jones industrial average has more than tripled from its recession-era low of 6,547 to 21,174 on Wednesday.” “Yet just 10 percent of the U.S. population owns 80 percent of stock market wealth,” the article explains. “Meanwhile, middle-income households derive most of their wealth from their homes.”

We are a rich nation but to be sure, private debt is also sky high as well (about $12T).  What bothers me the most?

If every time I heard a Democrat / Socialist say “we are a rich nation”, I got a penny, I’d be able to take TMEW out to a nice dinner every so often.  The problem is that when they MAKE that statement, it is OUR wealth they are eyeing for their increased spending on current or new social programs (or pandering to the latest identity group atop the Democrat PC / Identity group totem poll).

They just believe that OUR money is THEIR’S to take – and if you object, you’re a racist, bigoted, misogynist, homophobic xenophobic extremist.  So shut up.

(H/T: Washington Free Beacon)

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