The Richest Have Never Been Richer: US Household Assets Rise To Record $97 Trillion (As The Poor Get Poorer)

– The Richest Have Never Been Richer: US Household Assets Rise To Record $97 Trillion (As The Poor Get Poorer) (ZeroHedge, March 12, 2015):

In Q4 US household net worth jumped by $1.5 trillion to $82.9 trillion, driven by a rise in total assets to $97.1 trillion, even as the long awaited increase in “good debt”, that of mortgage debt, remains elusive and Mortgage debt hasn’t budged from $9.4 trillion in 8 quarters! This, even as the total US housing market is said to have kept rising. The biggest jump in Q4 assets was once again in financial assets, driven by a $492 billion increase in Corporate Equities as well as $323 billion added from Pension Funds. And as usual, financial assets remained at precisely 70% of total assets. Who benefits? Why America’s richest of course.

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