tag:blogger.com,1999:blog-6616959642391988608.post5355659079904276..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Household net worth is up, not downScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6616959642391988608.post-3781773544068411962014-07-29T08:36:20.238-07:002014-07-29T08:36:20.238-07:00Scott Grannis:
I don't think it is 'virtu...Scott Grannis:<br /><br />I don't think it is 'virtually impossible' for the net worth divergences. First, the lower half hardly own any stocks which have contributed much to overall net worth but they do have mortgaged homes which are down, still, by quite a bit. Secondly, the 14% unemployment and the very low participation rate is felt at the lower levels so they have probably dug NormanBhttps://www.blogger.com/profile/05986709079442388236noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-12354329040532262992014-07-29T08:14:49.935-07:002014-07-29T08:14:49.935-07:00Thanks for the reply...great reading as always. Thanks for the reply...great reading as always. Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-28750922989342049602014-07-28T19:10:13.558-07:002014-07-28T19:10:13.558-07:00Benjamin: I believe the Russell Sage study indeed ...Benjamin: I believe the Russell Sage study indeed focused on median household net worth, and my numbers refer to average household and per capita net worth. But I think it is virtually impossible for those differences to account for the huge divergence in results.<br /><br />The Forbes 400 have a total net worth just over $2 trillion, and that is only 2.5% of total household net worth according Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-35236667322423951022014-07-28T18:50:10.896-07:002014-07-28T18:50:10.896-07:00Russia bans all Ukrainian dairy imports
A couple ...<b>Russia bans all Ukrainian dairy imports</b><br /><br />A couple of days ago, I wrote that the Ukraine's exports to Russia accounted for 50% of Ukraine's GDP. According to an article in Reuters, it is <b>only 8% of Ukraine's GDP</b>. The same article however did report that Russia banned all imports of dairy products from the Ukraine.<br /><br />http://uk.reuters.com/article/2014/Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-45721842379535296812014-07-28T18:42:27.269-07:002014-07-28T18:42:27.269-07:00Scott Grannis: Did the Sage folk measure median ne...Scott Grannis: Did the Sage folk measure median net worth while you have measured average net worth?Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-69192848076367965272014-07-28T18:42:19.772-07:002014-07-28T18:42:19.772-07:00I realize this cycle is still running with low nom...I realize this cycle is still running with low nominal GDP, so perhaps it is like Yellen state: recovery is not done yet?moneytalk88https://www.blogger.com/profile/12103225821409028982noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-25331008275889266692014-07-28T18:40:26.943-07:002014-07-28T18:40:26.943-07:00Tks, Scott. I am aware an interesting definition t...Tks, Scott. I am aware an interesting definition to differentiate these two concepts. Recovery means the economy is still using the existing capacity, while the expansion means the economy is utilizing the additional capacity. This sounds reasonable? In addition, in a typical cycle, expansion follows recovery. I am thinking we may look at nominal GDPmoneytalk88https://www.blogger.com/profile/12103225821409028982noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-15929033653194812562014-07-28T17:44:23.507-07:002014-07-28T17:44:23.507-07:00I am unaware of any standard definitions of recove...I am unaware of any standard definitions of recovery and expansion. As I see it, most parts of the economy have recovered the losses suffered during the Great Recession, and are moving into new high ground. That includes jobs, real GDP, and nominal GDP. It's been the weakest recovery in modern times, but it is nevertheless a recovery and the economy is clearly in an expansion phase. Yellen Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-53838513437213433762014-07-28T15:45:56.985-07:002014-07-28T15:45:56.985-07:00Hello Scott: I put forwarded a question on the oth...Hello Scott: I put forwarded a question on the other post, here I refresh it in case you missed it. Your insights are very appreciated! Recently, Yellen stated that the US recovery was not done yet? Does this mean economists have measures to judge when the recovery turn into expansion? If So, what major indicators would show this change? Many thanks! Dennismoneytalk88https://www.blogger.com/profile/12103225821409028982noreply@blogger.com