It truly is astonishing that Trump got elected on the platform of ‘this economy blows, I’ll make America great again’, while, simultaneously, US household wealth drifted, effervescently, to new record highs of $90 trillion.
Markets have gained more than $1 trillion in market cap since the election and nothing seems to be able to stop the Santa Claus Rally.
Under a globalist system of cheap labor, high production capacity, and targeted marketing, Government obligations rose by 8%, household debt by 4% — whilst household net worth rose by 1.8% in the third quarter.
Imagine a country where 75% of its citizenry have less than $1k in their bank accounts, up to their eyeballs in debt to buy the new baubles promoted by Madison Avenue. The upper crust elite, hard working and industrious, keep expanding their many millions of dollars of personal wealth, both enjoying business growth and stock market gains.
That’s America today. Good luck trying to fix that situation, Mr. Trump.
If you enjoy the content at iBankCoin, please follow us on TwitterNet worth for households and non-profit groups rose by $1.59
trillion, or 1.8 percent, to a record $90.2 trillion in July through September from the previous three months, according to Fed’s financial accounts report, previously known as flow of funds surveyValue of financial assets, including stocks and pension fund holdings, rose $1.16 trillion
Household real-estate assets climbed by $499 billion; owner’s equity as a share of total real-estate holdings increased to 57.3 percent from 56.8 percent
The Details
Household debt increased at a 4 percent annual rate last quarter after a 4.3 percent pace in the second quarter
Mortgage borrowing advanced at a 2.9 percent pace; other forms of consumer credit, including auto and student loans, climbed at a 7.5 percent rate, which was the most since 2Q 2015
Total non-financial debt grew at a 5.8 percent annual pace after 4.3 percent in the previous three-month period
Federal government obligations expanded 8.2 percent, state and local government debt advanced at a 0.8 percent pace, while business borrowing increased 6 percent
*correction
Stock market bubble gains
*correction
Desperation wealth effect is far from hedonism
*clarification
Yanking perception and gain. into rate hike
Thanks Obama for leaving us with such a shitty economy! Thankfully, Trump’s here to save the rigged economy with his brilliant isolationist trade policy. This evening i’m very happy to say i’ll be dining at the new Trump Hotel on Pennsylvania Avenue. I’m sure i’ll be greeted by ornate brilliance strictly crafted by domestic labor using only the best of American materials.
Cover that FCX and DB!
ass wipe mike, you out there? TA? Been a long time.