tag:blogger.com,1999:blog-22959333.post6880465357827532561..comments2023-09-16T12:06:04.504-04:00Comments on Economic Ramblings: Household NetworthAnonymoushttp://www.blogger.com/profile/00826733025674909285noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-22959333.post-66611002971843640042014-09-28T23:10:16.567-04:002014-09-28T23:10:16.567-04:00This article is mainly about debt which is continu...This article is mainly about debt which is continuing to increase due to mortgages, credit cards, car loans, and student loans. All of these things is increasing the debt substantially. What a lot of people seem to be doing is spending more than what they can afford. An example of this is credit card debt. Credit card debt is due to using your credit card to spend a lot of money, but we need to pay these companies back what we paid plus tax. A lot of people can't afford to pay the bill and that puts them in debt. Another example is student loans. People take out loans to help pay for college, over the years the amount increases due to the tax and a lot of people can't afford to pay the government back. The student loan debt is now greater than credit card debt. That just shows how much much debt we are in only with student loans. Yes the economy is getting stronger than it was back in 2007, but debt is increasing and is becoming more common to more americans.Anonymoushttps://www.blogger.com/profile/05864631636436791567noreply@blogger.comtag:blogger.com,1999:blog-22959333.post-38921322770159967102014-09-28T22:25:55.657-04:002014-09-28T22:25:55.657-04:00The four percent increase of American households n...The four percent increase of American households net worth shows that the economy is getting a little bit stronger but is still very fragile. I feel that we are moving away from the economic lows in 2007 and towards a prosperous economy in the future. I am worried to find out what the future has in stored regarding to the new student loans debt, which has more than double since 2006. Another concern is the gap between the wealthy and poor in the stock market. In the article it said that more than twice the amount of dividends were paid to taxpayers earning two million or more instead of taxpayer whose annual earning are 100,000 or less. This means the twenty-one trillion dollars households owns in stock are mostly owned by the wealthy which is a small percentage of Americans. This puts an major asterisks next what the Fed say is "The Biggest gains". Domenick Luongonoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-62379623946866447862014-09-28T22:21:01.118-04:002014-09-28T22:21:01.118-04:00When the United States got hit with the 2007 reces...When the United States got hit with the 2007 recession, all economic statistics went on a decline. Since then, we have been on the rise as a whole, which is shown by the four percent increase. That number does not sound like an astronomical increase but the feeling of being on the rise is so positive. Most people would be happier with a higher numerical increase but I am ok with it because we are not on a decline.Jaime Alvareznoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-35503934256208201492014-09-28T18:47:51.505-04:002014-09-28T18:47:51.505-04:00Brian DelVecchio
I believe that this article doe...Brian DelVecchio<br /><br /> I believe that this article does a good job shining the light on how poorly wealth is distributed across America. The overall household worth has raised significantly but that is largely due to the wealthiest gaining an excessive amount more money than in the past. The article states how more than a third of dividends on tax returns were to those earning at least $2 million which is more than double than that of those earning under $100,000. This means that dividends from stocks are being earned by the wealthiest and they are gaining much more than their poorer counterparts. I feel that if there was a study on how the household wealth net-worth for earners under $100,000 would be very different than the one that we read and could raise attention to the fact that life is not necessarily improving for the poorer classes. This also leads to student loan debt as the richer do not need to deal with said debt nearly as much as the poor and middle classes. The debt has been growing partially because there are more people going to university which is great but many of these people either drop out or graduate without a job to capitalize on their degree, so they cannot pay the debt off nearly as much as initially planned. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-21348475589299503092014-09-27T17:01:20.661-04:002014-09-27T17:01:20.661-04:00It is crazy to realize all the debt this country i...It is crazy to realize all the debt this country is in because of the various auto , home and education loans. majority of the debts come from student loans not being paid because graduates cannot find jobs. It tells us that even with so much debt the average family net worth has increased but that is possibly due to all members of family working as the new mindset is to start working as early as possible. i think people need to look at their contracts more carefully when taking a loan as a lot of people see the small picture of maybe a $100 a month but all that adds up to the point where they can't pay it offkarthiknoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-46302327744852296472014-09-27T16:05:15.067-04:002014-09-27T16:05:15.067-04:00Bryan Rivers
Even though the USA is the most powe...Bryan Rivers <br />Even though the USA is the most powerful economic country in the world it still has tremendous problems. The debt that has accumulated from the households and non-profit organizations was 77% of the GDP. The only good part is that the private sectors debt has been declining over the years. Business are being smarter in the production and amount of investments they do. The government is the sector that is going in the opposite direction. They have to be the ones to fix the debt, but doing so in a smart way. Spending money carelessly is only going to increase the damage that is already done.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-15624608911238205352014-09-27T12:17:49.432-04:002014-09-27T12:17:49.432-04:00Even though the article says that the economy is s...Even though the article says that the economy is slowly getting better I think it is going to be a long time before we are near where the economy was in the past. It will take a long time because of the fact that our government is still very deep in debt. Regardless of the fact that a lot of the other debt such as auto loans, etc. has improved, I still do not think that its enough. I believe there still much to do to imprve our economy.Aly Rafehnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-84514988586605267162014-09-27T11:22:36.336-04:002014-09-27T11:22:36.336-04:00The article talks about the increase in the net wo...The article talks about the increase in the net worth of American households by 20%. Some people will believe that this increase is a positive idea but in reality it isn't because of the stacking amount of debt our country has. The amount of debt that our country is accountable for is unbelievably tremendous. Debt is caused by none other than loans itself. Student loan, auto loan and credit loan these loans are the major factors that contributes to the debt of our country significantly. This article reminds of the previous article because it is similar in a way that both article conveys the statistics of debt in America. It is truly hard to believe but at the end of the day we all believe that one day our economy will recover and help more families around the nation.Aedjet Simoynoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-90487829697793571672014-09-26T21:11:11.307-04:002014-09-26T21:11:11.307-04:00This article discusses the net worth of households...This article discusses the net worth of households rising 20 percent since the decline in 2007. To most people this seems like an amazing increase and helps to reassure their trust in the economy again. What they fail to realize is that the actual growth when you use the consumer price index is only 4 percent over the past 7 years. Sure it is great that the net worth is finally increasing but it is doing so in such small increments that it can almost go unnoticed. Not only is the net worth increasing at a sluggish rate but also the increase is generally occurring in the wealthiest households. Therefore, the average American is most likely in the same financial position that they were in 2007. Additionally, the article states that total household debt has declined as a percentage of GDP has declined, but it does not state the root cause. Has the decrease in household debt occurred due to the stricter regulations on bank loans? The numerous amounts of homes that have been foreclosed on as people could not pay? It also states that as overall household debt is declining, student loan debt and credit debt continue to skyrocket. Additionally, student loan debt is now even higher than the credit card debt and the debt on auto loans in the US. In conclusion, although the private sector debt may be declining slowly in terms of the economy the government debt has been rising enough to make the benefits of such a decline look microscopical.Brittany Kingnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-83290396525109298922014-09-26T20:36:46.327-04:002014-09-26T20:36:46.327-04:00This article states that we have just begun to get...This article states that we have just begun to get out of the economic hole that was created in 2007. The biggest gains in recovery have come from the equity market. Households own $21 trillion in stocks and mutual funds, however most of these are owned by the wealthy so only the wealthy have begun to make a substantial recovery. For others they are still in tough times, especially the younger generations because student loans have nearly doubled since 2007 generating $1.3 trillion in debt. That is more than credit card debt or auto loan debt in the country. With many younger households in such great debt it is hard for them to create substantial wealth and provide for their families. This reminds me of the previous article, reinforcing to me that my student loans should be paid off as soon as possible, otherwise it will be hard for me to become wealthy.Matthew Kurdewannoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-14376957022457073302014-09-26T16:29:14.172-04:002014-09-26T16:29:14.172-04:00The household wealth has only grown 4% in 7 years,...The household wealth has only grown 4% in 7 years, 4% sounds good but it is growing in such small increments that its nothing to be to excited about. I agree with Marissa about Americas loan problem. We take out loans thinking the monthly payments will be a piece of cake but they grow due to interest rates. We do not realize how much the price of a loan will increase due to interest. Student loan interest rates are around 8% and that loan will grow very fast and most of us do not even realize how much extra money we are paying due to interest. Also student loans are hard to avoid because most college students need loans to go to college. It is nice to see that private sector debt is decreasing but the government debt is already extremely high, about 17 trillion, and growing. Our nation has a big problem with debt and it is a hard thing to avoid. Some statistics in this article show that our economy is getting back to normal but we are still not completely back to normal.Brenden Wisnewskinoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-9066566858206526502014-09-26T13:00:36.400-04:002014-09-26T13:00:36.400-04:00This article informs the readers about the househo...This article informs the readers about the household wealth in America presently. It is at a record high since the recession that started in 2007, 4% higher than what it was before 2007. Although this has happened, America is still in great debt. Seeing how student loan debt is higher than credit card debt is mind blowing and brings up the question of whether not the economic system is on it's way to redemption or not. Students go to college to get jobs so they can be financially stable but it seems that the loans they take out prevent them from being able to be stable. There may be some good aspects of the economy but debt should be the main focus.Anonymoushttps://www.blogger.com/profile/04519000344231232705noreply@blogger.comtag:blogger.com,1999:blog-22959333.post-52928194969917087172014-09-26T10:58:53.811-04:002014-09-26T10:58:53.811-04:00This article talked about how a majority of Americ...This article talked about how a majority of America is in debt. These debts come from taking out loans on cars, credit cards, or education. Of the three types of debt, the overwhelming majority of debt comes from student loans. Although there is an abundance of debt in the American economy recently, one way that families have tried to fight their way back is by buying and selling stocks. The stock exchange is back on its feet and so too is America to a degree after a recession. There is a significant decline in household debts due in part to lower mortgage debts. I believe that the economy is almost completely back to when America was thriving and this in large part thanks to the stock market.<br />-Nick BellanteseAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-83256786724365733512014-09-24T22:52:44.733-04:002014-09-24T22:52:44.733-04:00Although the household net worth increased by 4 pe...Although the household net worth increased by 4 percent since 2007, it is not a substantial increase; especially if the recovery in household wealth favors the wealthiest household. The average American continue to have same if not worst household wealth due to rising outstanding debt in credit card and student loans in which to my astonishment student loans has more than doubled since 2007. I don’t know if the substantial increase in student loans is due to lack of well paid jobs or the loan rate, either way being attach to a huge debt and being part of a statistic is not what we expect when taking out student loans. After reading this article I’m hesitating in believing that the American economy is recovering, but I have high hopes.Anonymoushttps://www.blogger.com/profile/01740156983434573638noreply@blogger.comtag:blogger.com,1999:blog-22959333.post-12483064183077582572014-09-24T00:05:24.374-04:002014-09-24T00:05:24.374-04:00Marissa Cotroneo said.....
Debt has dramatically a...Marissa Cotroneo said.....<br />Debt has dramatically affected all aspects of our economy. It is all because of loans. It is very easy to take out a loan and see it as an easy 100 dollars a month fee. But what people don't realize is that all of that money adds up and sooner or later you can't keep up with that 100 dollars a month payment. Americans are having this problem when it comes to automobile loans, student loans, and house loans. The percentage of Americans that owe money in each of these categories for the most part are getting slimmer; the only one that is increasing is the student loan debt. The student loan debt went from 22%, to a smashing 40 % of Americans household debt. Because the average American still owes so much money their household wealth is still small. The fact that the household wealth only increased by four percent is ridiculous. Although it is taking a long time for everything to go back to the way it should be, at least it is getting better; that is all that we can ask for.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-56844985749426359102014-09-22T16:33:40.103-04:002014-09-22T16:33:40.103-04:00The unnerving part about this article was that eve...The unnerving part about this article was that even though the American household percentage has risen to the point it has, it has done so in small increments over the past seven years. This is just the highest point that it has reached thus far.<br />But to read that student debt is such a large percentage of the national debt as compared to other debts that Americans has accumulated over the years. I truly do not know where to put my faith in the economic system. <br />Whether this article was positive or negative I cannot say, but what I do know is that our government is exploiting all groups of people and making them owe tremendous amounts of money when they do not have the means to pay it off later in life.<br /><br />Beverly LevineAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-4449757876611165022014-09-21T17:23:16.389-04:002014-09-21T17:23:16.389-04:00It is crazy to learn all the debt that the country...It is crazy to learn all the debt that the country is responsible for. Over the years people have built up more and more debt whether its from their student loans, their mortgage, or their car payments, each household has its own number for what they owe to the country. It is so sad to know that the debt for each household is going up and also the debt for the government continues to go up. Students loans have now surpassed the debt that credit cards have caused. That is shocking because it means that no one is getting paid enough. Americans are taking out huge amounts of debt with student loans and they are spending money that they do not have with their credit cards and racking up an entirely new form of debt for themselves. <br /><br />Katherine HaasAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-22959333.post-75922829662910636992014-09-20T18:26:58.870-04:002014-09-20T18:26:58.870-04:00Vinona,
Note thoughg that the growth in rea...Vinona,<br /> Note thoughg that the growth in real terms was only 4 % in 7 years which is nothing to write home about :-)Ghassan Karamhttps://www.blogger.com/profile/15562232018685403280noreply@blogger.comtag:blogger.com,1999:blog-22959333.post-14933361283827522692014-09-20T17:31:59.033-04:002014-09-20T17:31:59.033-04:00It is hard to believe that even during this rough ...It is hard to believe that even during this rough economical period the net worth in American households has increased by 20 percent. Student loans are totaling trillions of dollars , that puts the student in a lifetime of debt but also their guardian who may be the cosigner or provider of the loan. Because loans are payable at a later time , for the time being the families are doing well financially. I feel like one of the reasons the family net worth increased is because it seems like all members in a family are usually working , people start at age 16 and they end up working the rest of their life. It is engraved in peoples heads that money makes the world go round and that they should start making it as soon as they can. Currently there are not many positive stories being told , this article is refreshing. Vinona Rugovanoreply@blogger.com