By the Numbers: A Closer Look at the Real Wealth of US Households

Compared to the typical Japanese or European, the typical American is only half as rich. Half the people in the US have less than $53,000 net worth. You can imagine what the bottom 20% have.  Read more below.

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Americans are poorer than they think…

Dow up again yesterday. Gold still bouncing around…

The press is still focused on Europe. A “deal over eurozone fiscal rules,” was announced earlier in the week. Every day brings more speculation about what form the final deal will take…and whether the European Central Bank will lend a hand.

Nobody really wants to sell stocks. Because a real deal might send stock prices shooting up in a giant Christmas rally.

They don’t want to buy either. Because a failed deal might send them collapsing. So investors watch…and wait.

 Read More at The Daily Reckoning By Bill Bonner, The Daily Reckoning

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