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40% decline in US household net worth

"Formerly known as the middle class"

 
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The gutting of the middle class

Most of this loss comes from real estate prices.

But remember the "wealth effect"? As people's home prices went up it stimulated spending across the board.

So is this the "poverty effect."

You bet it is.

The scary thing...the bottom of the real estate market has yet to be hit.

This is deflationary, not inflationary.




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