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I'm confused by this. It doesn't quite mesh with the more recent numbers I'm familiar with such as [1], which shows modest gains for the bottom 50% wealth hous
by mdorazio 7y ago
I'm confused by this. It doesn't quite mesh with the more recent numbers I'm familiar with such as [1], which shows modest gains for the bottom 50% wealth households from 2013 to 2016 [1]. My guess is that the dotcom bust recession and great recession both knocked down bottom-half wealth holders far more than the interim percentage gains to arrive at the net decrease quoted here.
[1] https://dqydj.com/net-worth-brackets-wealth-brackets-one-percent/ https://dqydj.com/net-worth-brackets-wealth-brackets-one-per...
- y4mi 7y agoIt's hard to actually understands the current state of our economy and I doubt I do to any significant degree, but from what I gathered from your linked article, they're purely looking at net-worth. This ignores inflation and rising housing costs etc.
- mdorazio 7y agoI guess I'm not understanding the difference between net-worth and wealth in economic terms here then. I assumed they were roughly equivalent.