Segment 1: Groundhog Day in Washington SEGMENT BEGINS AT 00:37 Many Americans may not realize that the current debt ceiling debate is not about future expenditures but about already-promised current obligations. The wheel goes round and round and round and yet it...
by Jerry Robinson, FTMDaily.com Editor-in-Chief
The Deceptive Wealth Effect: Household net worth for Q1 this year surged by $3 trillion, surpassing its pre-recession peak. The total net worth of U.S. households now stands at a whopping $70.4 trillion. The quarterly jump in household wealth was the highest since 1999. The wealth effect is in full force. While the majority of these gains came from stocks, around 25% came from real estate. (Real estate values increased by $782 billion in the last quarter.)
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