re: Median, real net worth rose 37% from 2019-2022

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Careful... if you keep talking like that you'll be lumped into the "doomsayer" group with me.

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Lol, I don’t care. “Doomer” is the new slur for people who are versed in history and capable of performing 8th grade math, so, basically a compliment as far as I’m concerned.

Speaking of history, this is excellent btw, just finished it.

LINK

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Meanwhile, debt service is coming down the pike like an avalanche.

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I think this is flying below the radar of many as to how serious this really is.

For the 2010s the debt servicing was around $300B-$500B per year. For FY2019 it was somewhere just under $600B. By the end of Q3 this year it was already at $981B (meaning it will likely top out somewhere between $1T and $1.1T).

For FY2023 we can expect at least another $200B-$300B increase in annual servicing. OMB is already projecting a deficit next year of $1.8T.

When your debt servicing is that much of your deficit spending, you are essentially borrowing more money to pay for the borrowing of more money, to pay for the borrowing of more money, etc.

At this rate, we may well see annual $2T deficits and $1.5T servicing requirements within the next 2-3 years. Within the next 10 years (maybe 5), debt servicing will eclipse Social Security as being the single largest spending category in the federal budget.

When debt servicing is the largest cost and nothing is done except accruing ever more debt, that has only one eventual end.

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Home values have soared…hypothesis is that most of this “net worth” jump is tied up in illiquid Real Estate.

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Exactly.

Plus, unlike stocks, your home has to be replaced if you sell it.

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Not sure. Stocks are up a lot too. But why exclude home values?

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you just come and lie a shite load on these threads.