Blue collar boom? College grads, baby boomers big winners in Trump's economy

[transporter]

IGNORATI WARNING: THIS ARTICLE CONTAINS FACTS!! IGNORATI ARE ALLERGIC TO FACTS. READ AT YOUR OWN RISK!!!

Blue collar boom? College grads, baby boomers big winners in Trump's economy

WASHINGTON (Reuters) - U.S. President Donald Trump rolled out an eye-catching statistic in his State of the Union address Tuesday: the wealth held by the poorest half of American households increased three times as fast as the wealth held by the “1%” since he became president.

That’s true, according to Federal Reserve data.
On average, Americans have seen a 17% jump in household wealth since Trump’s election, while wealth at the bottom half has increased 54%.

Here is what the Fed’s Distributional Financial Accounts have to say:

Historically, 17% growth in household wealth over 11 three-month “quarters,” or nearly three years, is pretty standard. There have been 110 such periods since the Fed’s data series begins in mid-1989, and the most recent ranks 55th, squarely in the middle.

On a quarterly basis, compound growth in household wealth since 1989 has averaged 1.39%. Under Trump it is slightly less, at 1.34%.

The bottom half of households saw their net worth rise by 54% under Trump, from $1.08 trillion to $1.67 trillion. That’s compared to an 18% rise for the top 1%, who control roughly a third of the total household wealth in America, or around $34.5 trillion.

Even after those gains, that works out to average net worth of around $26,000 for the bottom half of households versus around $27 million for the ones at the top.

This is the perfect type of bastardization of pre-k level math for Trump's base to get excited about. Just like the unemployment rate, the ignorati can't or refuses to understand the basic relationships....they don't have to understand the calculations---that would just be too much---they can't even grasp the relationship.

If someone who has no money is given $1, their net worth has massively increased on a percentage basis.

If someone who is massively wealthy is give a dollar, their net worth has barely changed.

The ignorati also can't understand the relation between total net worth of different classes. The dollar amount of the increase in the net worth of those at the top is a far larger sum than the dollar value total net worth of all the people at the bottom. (I am sure this is too difficult for most on here to understand.)

 

[BOP]

You're not entitled to your own facts, butt munch.