I just looked it up: The total amount of wealth (after debts) of all US households, individuals, and non-profits is right now in the neighborhood of $100 TRILLION. (The WSJ said $85 trillion, two years ago). Yes, you read that right, not 100 million, not 100 billion, but a hundred trilliondollars.
Are you impressed? It gets better! — or, at least, it could.
If we could somehow wave a magic wand and divide all that wealth equally among all 125 million US million households (source here for that #) well, after you cross out all those zeroes (or subtract exponents), then each and every single household would NET just about eight hundred thousand dollars.
$800,000 bucks for every single household.
Think about that!
A very large fraction of the population is in fact basically penniless – or they owe way more than they can earn in a…
View original post 201 more words