3 ms·
He'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 par
by nilkn 13y ago
He'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.