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Humble_Novice 10/25/23 12:10:31 AM #1: |
https://www.yahoo.com/finance/news/standard-american-household-now-millionaire-104639340.html
It may be hard to believe it while money is so tight amid the cost of living crisis, but the average American household has achieved millionaire status. --- Miss the old GameFAQs politics board? Then come here to discuss it with us: https://www.reddit.com/r/gamefaqs261/ ... Copied to Clipboard!
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Gritty 10/25/23 12:14:45 AM #3: |
Mean net worth meaning average of what exactly? ... Copied to Clipboard!
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wackyteen 10/25/23 12:15:21 AM #4: |
Mean and average are two wholly different things
--- The name is wackyteen for a reason. Never doubt. ... Copied to Clipboard!
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Sansoldier 10/25/23 12:23:27 AM #5: |
Mean doesn't matter here. That just means the top % of net worth increased that much more. Acknowledged by the article at least.
Even when looking at the mediananother measure of the average, which That's awful, considering most house prices have ballooned +100K-200K in the last 3 years. Their house price is increasing, but any other liquid savings are likely not going anywhere. Are you even "wealthy" if your 100k home is worth 300k now? You can't realize profits since you can't move out when everything else is more expensive. The only option is really inheritance when you pass away, or using it for a loan. The number of adults with assets of more than $1 million fell from 62.9 That's because most people's 401Ks were wrecked in 2022. Unless they died, they're probably back to "millionaire" status. --- http://www.youtube.com/user/san3711 ... Copied to Clipboard!
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TheGoldenEel 10/25/23 12:24:44 AM #6: |
when looking at the mediananother measure of the average, which represents the midpoint in the ranking and is less likely to be skewed by exceptionally high or low numbersthe typical American household was worth $192,900 btw this is substantially different from millionaire status --- BLACK LIVES MATTER Games: http://backloggery.com/wrldindstries302 \\ Music: http://www.last.fm/user/DrMorberg/ ... Copied to Clipboard!
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wanderingshade 10/25/23 12:25:48 AM #7: |
What kind of math average hell is this?
--- "You're made of spare parts, aren't ya, bud?" ... Copied to Clipboard!
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streamofthesky 10/25/23 12:33:35 AM #8: |
I can't get over how utterly insulting to the reader's intelligence it is to call the median "another measure of the average". What the fuck? And it proves how bs that is, because the median is 1/10 of the fucking average! The article proved 3 things: 1) The writer is a fucking moron 2) People are fucking poor (net worth of $192K w/ housing included is not good) 3) Wealth inequality is fucking insane, that the 0.1% push the average for everyone so much fucking higher from the median EDIT: It's the Fed asserting this. Yet another reminder that the Federal Reserve is the enemy of the people. ... Copied to Clipboard!
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