Fooling Us With Fake Stats: Household Net Worth
When something means the opposite of what they claim...
Towards the end of a financial bubble, the people who benefit from the bubble’s continuation — politicians hoping to be reelected, bankers hoping to complete the next deal, money managers talking their books — start touting “record household net worth” as a sign of societal health.
But they’re wrong, for the following reasons:
Deceptive leverage. Preten…