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Either you have logicked incorrectly, or I cannot read you. (I'll take the blame for the latter...) Care to clarify with some numbers?
by delinka 13y ago
Either you have logicked incorrectly, or I cannot read you. (I'll take the blame for the latter...) Care to clarify with some numbers?
- Livven 13y agoIf you have $100K in debt, you have "more" than 20 people with $10K each in debt combined.
- nilkn 13y agoHe's saying that if you add up a bunch of negative net worths, eventually the sum is going to be very negative, even if each individual number was small. In particular, he's talking about the case where each of those numbers that you add up is individually smaller than your personal debt, but their sum exceeds your personal debt. Therefore, it looks like you are wealthier than all of those people combined (since your worth exceeds the sum of all theirs!).
- tedunangst 13y agoNot to mention, that by having a negative net worth, you are a part of the bottom X%. But your debt is less than the sum of all debt, by definition. So 100% of Americans have more net worth (individually) than the bottom 5% combined.