December 10, 2013
THANKS, W:
Americans Continue to Regain Lost Wealth (NEIL SHAH, Dec. 9, 2013, WSJ)
The stage could be set for stronger economic growth next year, as a surging stock market and run-up in home values have helped Americans recoup nearly all the wealth they lost in the recession.The net worth of U.S. households and nonprofit organizations--the values of homes, stocks and other assets minus debts and other liabilities--rose 2.6%, or about $1.9 trillion, in the third quarter of 2013 to $77.3 trillion, the highest on record, according to the Federal Reserve.
Of course, we'd be doing even better if bank bailouts had been built around retiring mortgages.
Posted by Orrin Judd at December 10, 2013 5:55 PM
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