Real estate prices are rising again! Wall Street is rising again! The net worth of America has been restored! The global financial crisis that began six years ago wiped out about $16 trillion of our collective net worth. The good news is that we are once again worth a whopping $66 trillion.
The bad news is that inflation over the last six years makes that number less meaningful. Plus, there are now more of us than in 2007, reducing our net worth per person.
Take a look at this graph. Democrats can argue we have now recovered, and Republicans can argue we have recovered very little. And, they're both right!
The bad news is that inflation over the last six years makes that number less meaningful. Plus, there are now more of us than in 2007, reducing our net worth per person.
Take a look at this graph. Democrats can argue we have now recovered, and Republicans can argue we have recovered very little. And, they're both right!
