Median Family Net Worth Below 1989 Levels: Debt-to-Money Ratio Worst Since ’62

The American middle-class has essentially been a frog in a pot of water for decades. The Fed wizards have turned up the dial slowly so we barely recognize we’re being cooked. Here are some eye-opening stats via the always astute Mike Shedlock.

Written by Mike Shedlock Via themaven.net

As the stock market soars to new highs, here’s some sobering statistics to consider.

The stock market is at an all-time high but Americans Owe More, Save Less, and are Poorer Than in Decades.

Negative Wealth Percentage On the Rise

Sobering Stats

  1. A greater share of Americans have more debt than money in the bank than at any point since 1962, according to Deutsche Bank economist Torsten Slok.
  2. 30.4% of US families have negative net worth despite the recovery in housing and the stock market.
  3. Median net worth is below where it was in 1989.
  4. Inflation adjusted, net worth may be the worst in history. $78,000 is not worth what it was in 1989, to say the least.

Mike “Mish” Shedlock

 

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