Geee Posted July 29, 2014 Share Posted July 29, 2014 American Thinker: Finally, the change in net worth has made the mainstream media. The statistics, as reported in the NY Times, are horrific, as are the implications for the future of the country. Net worth may be the best single measure of a country's well-being. Median net worth is a reasonable marker for the standard of living. Medians (or averages) are not good measures to capture what is happening at the lowest or highest ends. (More about that below.) In the simplest terms, net worth is the value of a person's assets minus his liabilities. If this measure is growing, a person is becoming better off. If it is shrinking then that person is becoming worse off, at least in terms of wealth. Shocking Drop in Net Worth Conditions economically (and politically) may be getting so indefensible that even the NY Times feels compelled to report them, in this article by Anna Bernasek, which reported: The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution -- the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially. Link to comment Share on other sites More sharing options...
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