How so?
Household wealth
swelled at a record pace during the pandemic. From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall. Surging
home values and rising stock ownership fed the surge.
If you’re a 50-something and you’re not worth a cool $1 million, do not despair. Those numbers are averages, and the super-rich drive them waaaay up.
The “median” American household – picture the middle number in a long list of numbers – achieves a net worth of about $300,000 in the 50-to-59 age range, a far cry from $1 million.
The economy is doing great. Our only complaint is workers aren't getting their fair share. All you have to say about that is "what's a fair share?" Well dummy, it's more than they make now.
So the country isn't burning to the ground. Is it? How so?