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)

Leave a Comment

  • mer

    I get the same cold chill when I hear it. I keep looking at the numbers for “total value of 401K and other retirement/investment portfolios” and comparing them to the $20trillion debt and think: “Hmm, take one, pay the other off”.

  • sb

    “We’re a rich nation” always comes out when they want more redistributive programs. “We’re a rich nation – people shouldn’t be hungry here.” “We’re a rich nation – people shouldn’t have to do without here.” Etc. What they mean is they want to redistribute from the haves to the have-nots, and they don’t care WHY the have-nots have nothing. And if you object, you are selfish – “You don’t NEED all that money.” “Well that $xx means nothing to a rich person but it means a whole new life for the poor person.”

  • Bryan W

    This is a little off-topic.. I heard someone on the radio about a week ago, who made the following point: the progressive/statist/leftist Democrats cannot attack capital directly because [most] everyone wants to do better, and attacking capital would be attacking everyone except the died-in-the-wool socialists.

    Instead, they attack things they attach to capital:
    – Rather than insist on money to pay for abortions, they attack you as being against women’s health
    – Rather than clamor for more funding for refugees and low income immigrants (future socialist voters), they attack you as being xenophobic
    – Rather than bully us into more money for welfare benefits, they attack you as being racist (even though the largest group of beneficiaries for welfare are white).

    etc etc. I know I’m not saying it as well as the speaker, I really like the concept.

    All of these diverse issues are really just disguised attacks on capitalism. We’ve known that, but she put it into a perspective I haven’t heard anyone articulate so well before.

    Update: A little internet searching, and poof: the speaker was Sonnie Johnson on Breitbart Radio. I haven’t found a link to the show, but I’ll keep looking for it.

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