Sunday, July 29, 2012

US and UK have a very similar profile of net wealth change

This is an interesting article about the change in the value of US householder net worth over the period 2005 - 2010.  Of course it is just the sort of data that the intergenerational equity brigade will love since it shows how good the oldies are doing compared to the plight of the young. What the image cannot show is the absolute level of change of wealth change and the ability of each groups to replenish the losses. Older  people have lost much more wealth - since they had more to start with -  and have little time to replenish through earned income.

However, whatever way you want to look at things there is no doubt that younger people are having a tough time of things - in the US in the UK and most of Europe. Dick Stroud

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