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U.S. Household Wealth Hits Record

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U.S. Household Wealth Hits Record

(March 5, 2004) -- Household net worth rose from $43.58 trillion prior to the stock-market bust in 2000 to $44.41 trillion in the fourth quarter of 2003 due to robust home-price appreciation and the stock-market recovery, according to the Federal Reserve.

The central bank's research also reveals that mortgage debt slowed from a rate of 11.5 percent in the third quarter to 10.5 percent during the last three months of the year, while the jump in overall borrowing slipped from 9.9 percent to 8.3 percent.

Bear Stearns economists note that homeowners tapped into $491 billion worth of equity in 2003. Total equity, meanwhile, surged to $8.4 trillion as home prices continued their uphill climb.

Source: The Wall Street Journal (03/05/04); Hagerty, James R.; Lagomarsino, Debo

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Originally posted by igloo

The clueless will ignore this

Yeah you start breaking out numbers and people ignore it. They believe some left wing liberal who was doing bong hits in his dorm room when they should have been in economics class.

I was heated the other night when Mario Cuomo was on Hardball with Chris Mattews.., This idiot was stating the econmic reports and statistics such as the one above or the GDP and the unemployemnt rate doesn't accuratley show or measure the living standards of americans?? Huh?

See the liberal spin because the average american doesn't understand the financial and economic stats, they just regurgitate what they hear on the TV... A 57 flat screen plasma TV I might add, that they drove home in one of their 2 brand new SUV's.... get my point?

If consumption is up, credit card borrowing and the unemployement rate is down, how are people affording these luxuries????

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First of all I'm assuming these are deflated prices, anything other will be silly. However, I'll leave it upto you to prove it.

Second, its net household wealth - that does not necessarily mean that the average joe's wealth increased. I'm sure those tax breaks offered to the rich had something to do with increasing total wealth (hence rich getting richer).

The job forecast is still looking bleak. BTW, the stock market fell yesterday after the Madrid attacks - that article is dated 3/5/04.

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Originally posted by raver_mania

Second, its net household wealth - that does not necessarily mean that the average joe's wealth increased. I'm sure those tax breaks offered to the rich had something to do with increasing total wealth (hence rich getting richer).

Huh? Do you make this stuff up?

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Originally posted by siceone

Seriously take a economic and politics class it will open your eyes

Haven't seen you make too many sensible comments on here. Foreign relations does not have anything to do with the economy.

And if you know enough of economics or finance you'd know a one time report does not mean much - its the long run and sustainable figures that matter.

(bad assumption you made that I haven't taken any economics or politics classes).

Similar to that 8% GDP growth everyone was gloating about.

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Originally posted by raver_mania

Haven't seen you make too many sensible comments on here. Foreign relations does not have anything to do with the economy.

And if you know enough of economics or finance you'd know a one time report does not mean much - its the long run and sustainable figures that matter.

(bad assumption you made that I haven't taken any economics or politics classes).

Similar to that 8% GDP growth everyone was gloating about.

you don't think foreign relations has to do with the economy... The primary factor in foriegn relations is Money... I would like to sit down withyou one day and seriously show you how much money has to do with all of this... Money is the reason france opposed us.. money is the reason russia opposed us you really have to be joking if you belive that

I know alot about finanace and I can tell you that these one time reports are an aggragate measure of market(s) perfomance they just don't pick these numbers out of thin air.. and I should know about Finance and Economics I have a degree in one and a minor in the other.

we do not choose some arbitrary number and say HERE LOOK IT'S BETTER THAN IT EVER WAS, it's measured against the past

for example Im going to throw some simple baseline measures at you

since bush has taken office the Declining clinton economy was stopped and turned around. savings rate is up. the dollar has been weakened hence exports are up. House hold weatlh is up. the market is no longer inflated. Taxes are down. real estate is WAY UP. Interest rates are low.

and our deficit is less than the mid clinton era as a percentage of GDP

I don't make any serious comments on here? this coming from you are you Crazy ? you're possibly the most ridiculous person I have ever come in contact with

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Bdanto you want to tell the people in iraq who's families saddam boiled in oil that the war was for nothing? or maybe you could explain these 14 years of ignored resolutions? or the money saddam gave to the family of suicide bombers, which was offered prior to thier deaths?

give me one UN led conflict where they actually won, the UN is useless the oil for food program corrupt and the security coucil ineffective. if you have Evidence to the contrary please post

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Originally posted by siceone

Bdanto you want to tell the people in iraq who's families saddam boiled in oil that the war was for nothing? or maybe you could explain these 14 years of ignored resolutions? or the money saddam gave to the family of suicide bombers, which was offered prior to thier deaths?

give me one UN led conflict where they actually won, the UN is useless the oil for food program corrupt and the security coucil ineffective. if you have Evidence to the contrary please post

exactly

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Originally posted by siceone

Bdanto you want to tell the people in iraq who's families saddam boiled in oil that the war was for nothing? or maybe you could explain these 14 years of ignored resolutions? or the money saddam gave to the family of suicide bombers, which was offered prior to thier deaths?

give me one UN led conflict where they actually won, the UN is useless the oil for food program corrupt and the security coucil ineffective. if you have Evidence to the contrary please post

ok so now we are going to take over ALL the over dictators in the world? I can name a few that are much worse then Saddam!!

If Saddam was SO bad WHY did the 1st Bush allow US companies to send tons of mustard gas precursors, live cultures for bacteriologcal research, helped build chemical weapon factories, supplied the West Nile virus, supplied fuel air explosive technology, computers for weapons technology, hydrogen cyanide precursors and bellows for nuculeur weapons...

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WHat does that have to do with NOW? Hmmmm I totally agree with you while alot of what you say is blatantly false because it became a crime for anycountry to do business with Iraq Not to mention at the tail end of the gulf war bill clinton took office.

I would be the first person to criticize bush 1 for leaving saddam un deposed.. so waht the hell does that has to do with now

policies chang every 4 to 8 years in this country in case you forgot.

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