Household Wealth Rises to Near 2007 High

[jclay2]

I finally figured out who Jordan is. He is the champion of all sarcasm posters on zerohedge who goes by the title MillionDollarBonus.

Seriously, though, your posts lack any deep understanding of the structural problems with our market and economy and in the end just appear to be market chearleading. I think we all agree that anyone can increase their economic wealth in this environment. Work hard, increase your competiveness, cut down spending/debt, etc will all contribute to this. But to completely discount the massive western debts, bond/stock bubble, massive interventions by central banks is truly absurd. If you are such a believer in this amazing recovery, where would your beloved S&P 500 be if the Federal Reserve came out tomorrow and announced a plan to sell 2 trillion in fixed income assets? Would anyone really be foolish enough to make a bid on any fed assets, with a looming 2 trillion dollar sale? Where would home prices be if mortgage rates were at 7-8 percent? These are questons you need to answer honestly. If you do, you will begin to understand that this economy is only being held up by massive interventions and investors dumb enough like yourself to believe in "money for nothing and chicks for free".

[thoughtomator]

Nominal wealth is not real wealth.

[tod evans]

Well thank goodness!

I'll just march on down to my accountants office and explain to him that he's doing it all wrong, I'll tell him how I read on an internet forum that life is grand, business is booming, cars and homes are being sold and by golly there'd better be some money in my accounts when he gets done...

[jclay2]

Well thank goodness!

I'll just march on down to my accountants office and explain to him that he's doing it all wrong, I'll tell him how I read on an internet forum that life is grand, business is booming, cars and homes are being sold and by golly there'd better be some money in my accounts when he gets done...

lol thats funny.

[oyarde]

Well thank goodness!

I'll just march on down to my accountants office and explain to him that he's doing it all wrong, I'll tell him how I read on an internet forum that life is grand, business is booming, cars and homes are being sold and by golly there'd better be some money in my accounts when he gets done...

Pick up a little Holiday cash for me too Tod , not sure how much, I trust you .

[tod evans]

Pick up a little Holiday cash for me too Tod , not sure how much, I trust you .

It's not me....If my accountant can pull bunnies out of his rear I'll be happy to provide his contact info so all of us can be rich...

[oyarde]

It's not me....If my accountant can pull bunnies out of his rear I'll be happy to provide his contact info so all of us can be rich...

lol,lol

[Jordan]

I finally figured out who Jordan is. He is the champion of all sarcasm posters on zerohedge who goes by the title MillionDollarBonus.

Seriously, though, your posts lack any deep understanding of the structural problems with our market and economy and in the end just appear to be market chearleading. I think we all agree that anyone can increase their economic wealth in this environment. Work hard, increase your competiveness, cut down spending/debt, etc will all contribute to this. But to completely discount the massive western debts, bond/stock bubble, massive interventions by central banks is truly absurd. If you are such a believer in this amazing recovery, where would your beloved S&P 500 be if the Federal Reserve came out tomorrow and announced a plan to sell 2 trillion in fixed income assets? Would anyone really be foolish enough to make a bid on any fed assets, with a looming 2 trillion dollar sale? Where would home prices be if mortgage rates were at 7-8 percent? These are questons you need to answer honestly. If you do, you will begin to understand that this economy is only being held up by massive interventions and investors dumb enough like yourself to believe in "money for nothing and chicks for free".

I don't ever go to ZeroHedge. I'm not "MillionDollarBonus." Let's just keep things clear and not muddy the waters.

I'm not going to respond to hypothetical scenarios that won't happen. I don't go into the goldbugs' threads and ask "yeah but what happens when someone invents a gold-eating strain of bacteria?" or "what's gold worth if nuclear war breaks out tomorrow?" Waste of time and good brain cells.

"Money for nothing and chicks for free" is my new life motto. Seriously. You rock for coming up with that...assuming that you did.

[Jordan]

Nominal wealth is not real wealth.

How should we adjust it?

Well thank goodness!

I'll just march on down to my accountants office and explain to him that he's doing it all wrong, I'll tell him how I read on an internet forum that life is grand, business is booming, cars and homes are being sold and by golly there'd better be some money in my accounts when he gets done...

Don't hate your accountant because you missed the boat. There's still plenty of room and the water is warm!

[brandon]

Those who have made financially savvy decisions like:

• Buying a home at record low rates
• Investing in some of the world's greatest businesses via the stock market
• Improving their competitiveness by obtaining valuable skills
• Paying down high interest debts to reduce debt servicing costs

are likely enjoying immense wealth. American household wealth being at 2007 highs is excellent; it shows just how resilient wealth is in the United States and how prosperous we can be if we play by the rules of the game. Doom and gloom is over - we're all getting rich in this rapidly improving economy!

I'm not sure if there is a touch of sarcasm here or not. I think people that are buying homes at these rates could end up regretting it. When the rates eventually rise it's going to put a whole lot of downward pressure on home prices. Real estate values could definitely gap down significantly still.