The old are wealthier than the young, a pattern that has long been true. But the gap is growing, according to an analysis by the Federal Reserve Bank of St. Louis. Using data from the Survey of Consumer Finances, researchers compared median wealth in 1989 and 2013 for households in three broad age groups. Here are the trends (in 2013 dollars)...
Old (aged 62+): +40% Median wealth in 2013: $209,590 Median wealth in 1989: $149,728
Middle-aged (aged 40-61): –31% Median wealth in 2013: $106,094 Median wealth in 1989: $153,759
Young (under age 40): –28% Median wealth in 2013: $14,220 Median wealth in 1989: $19,830
The old are doing better, and the middle-aged and young are falling behind. There's more bad news: "Baby boomers, who are now retiring in droves, are likely to be less well-off than their 'old' counterparts in the two previous generations," the Fed researchers conclude. "And it looks as if members of the next two generations—Generation X and Generation Y (the millennials)—might also end up less wealthy than the generation before them."
Source: Federal Reserve Bank of St. Louis, The Demographics of Wealth—How Age, Education and Race Separate Thrivers from Strugglers in Today's Economy, Essay No. 3: Age, Birth Year and Wealth
Post by unlawflcombatnt on Aug 9, 2015 21:31:10 GMT -6
The trend of decreasing median wealth for those under 61 is a bad trend for the economy.
It is those under-61 workers who provide most of the spending-created demand for goods and services.
Add this declining source of spending & demand to the outsourcing-induced domestic demand reduction, and you have a recipe for continual decline in our economy.
There is now nothing to stem the continued loss of good American jobs. Low wage overseas labor markets have sucked off most American production jobs--and the wages & buying power that went with those jobs. The loss of median wealth in the under-61 age range is further evidence of that.
We need Tariffs (or Embargoes) and a complete freeze on immigration of any type--illegal, legal, H1Bs, guest workers, & everything else.
We don't need more workers. We need more job openings, and less newly-arriving workers to fill them.
from: The Declaration of Independence: "all Men are...endowed by their Creator with certain unalienable Rights... to secure these Rights, Governments are instituted... whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or abolish it"
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Apr 14, 2021 1:41:25 GMT -6
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Nov 13, 2017 15:19:23 GMT -6
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May 29, 2014 8:44:44 GMT -6
jeffolie: One might short a bull ETF to gain the decay but this requires a margin position subject to changes imposed by the exchanges & brokers
Oct 26, 2013 13:26:07 GMT -6
jeffolie: Holding a stop loss in these algo dominated markets almost always means the algos will hit your stops
Oct 26, 2013 13:20:09 GMT -6
jeffolie: Even so, these leveraged ETFs do not create margin calls nor expiration dates thus allowing one to hold indefinitely
Oct 26, 2013 13:17:52 GMT -6
jeffolie: Yes, the ETF features fading/leveraged decay because the futures and/or options used decay plus the administrative costs rise the decay, declining value ... I accept this as a cost and feature of all ETFs that purchase futures/options to maintain price
Oct 26, 2013 13:15:38 GMT -6
mimzy: jeffolie ~ I've been reading/lurking you for a year or three now and was wondering if your could you explain how you overcome quantum fading/leveraged decay in your ETF short position of the DJIA?
Oct 25, 2013 20:46:26 GMT -6