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Started By
Message
CNN article: Americans have never been wealthier
Posted on 9/11/23 at 3:25 pm
Posted on 9/11/23 at 3:25 pm
quote:
Fueled by a resurgent stock market and rising home values, US household wealth hit a record $154.3 trillion during the second quarter of this year, according to federal data.
Consumer wealth has now completely recovered from the recent inflation-driven drop in stock prices and real estate holdings.
Household and nonprofit net wealth increased by $5.5 trillion, or 4%, between the end of March and the end of June, Federal Reserve data released on Friday showed. This follows an increase of $3 trillion during the first three months of the year. The data is not adjusted for inflation.
This bump in wealth was driven mostly by a surge in the value of Americans’ stock market investments, which grew by $2.6 trillion during the quarter. Real estate holdings, including the value of homes, increased by $2.5 trillion.
Household wealth now stands about $2 trillion above the prior record of $152 trillion set in early 2022 — which should give consumers a cushion to weather future economic storms and a potential uptick in unemployment.
LINK
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Posted on 9/11/23 at 3:26 pm to RLDSC FAN
and CNN has never been shittier
Posted on 9/11/23 at 3:27 pm to RLDSC FAN
Log this one under articles not written if a republican is president
Posted on 9/11/23 at 3:28 pm to RLDSC FAN
quote:
CNN
Pissing on your head and telling you it is raining.
Posted on 9/11/23 at 3:29 pm to RLDSC FAN
That's some first class BS right there.
Posted on 9/11/23 at 3:29 pm to RLDSC FAN
War is peace
Posted on 9/11/23 at 3:29 pm to RLDSC FAN
looking forward to the OT Centrists centrist-ing their way through this one.
Posted on 9/11/23 at 3:33 pm to RLDSC FAN
Uh, but our dollars are worth about 75% of what they were worth in January 2021. If that. Are they factoring that in? If you look at your brokerage statements and see that you’re up 20% since the start of 2021, you’re not really up.
Posted on 9/11/23 at 3:33 pm to RLDSC FAN
Looking at the grocery, gas, and utility bills, I'm not feeling wealthier.
Posted on 9/11/23 at 3:34 pm to RLDSC FAN
quote:
Americans have never been wealthier
Posted on 9/11/23 at 3:35 pm to RLDSC FAN
But then I read the small print:
quote:
The data is not adjusted for inflation.
This post was edited on 9/11/23 at 3:37 pm
Posted on 9/11/23 at 3:35 pm to RLDSC FAN
Inflation goes out of control, and real estate moguls buy up all our houses, and it means “Americans have never been wealthier.”
Let them eat cake.
I hate our press with a loathing that could melt though concrete.
Let them eat cake.
I hate our press with a loathing that could melt though concrete.
Posted on 9/11/23 at 3:38 pm to DesScorp
maybe the metric they are using is, “the amount of American taxpayer dollars spent on a foreign war no one here gives a shite about”
Posted on 9/11/23 at 3:38 pm to DesScorp
quote:
I hate our press with a loathing that could melt though concrete.
Where were you on 9/11/2001?
Posted on 9/11/23 at 3:39 pm to boxcarbarney
quote:
Looking at the grocery, gas, and utility bills, I'm not feeling wealthier.
The dollar is worth less and cost of everything is rising. How does that make anyone wealthier?
Posted on 9/11/23 at 3:40 pm to SloaneRanger
quote:
Uh, but our dollars are worth about 75% of what they were worth in January 2021. If that. Are they factoring that in?
The article specifically stated that it wasn't adjusted for inflation. Doing so would show exactly what utter horseshite this article is.
Posted on 9/11/23 at 3:40 pm to RLDSC FAN
quote:
Real estate holdings, including the value of homes, increased by $2.5 trillion.
So your house is worth 30% more than it was 3 years ago. You're need to pay higher taxes and insurance because of it. Also, you can't move (unless you can buy a new home with cash) because you're going to get buttfricked by higher interest rates. Your wages haven't caught up with the absurd inflation that has been occurring with food/energy/transportation, but your most expensive asset (that you can't sell) has more than made up for it!
Posted on 9/11/23 at 3:40 pm to RLDSC FAN
Lmao. Gotta love using counting stats to measure wealth.
Posted on 9/11/23 at 3:42 pm to Klark Kent
CNN might as well OAN or Infowars if you're looking for accurate agenda-less news.
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