Locator: 40902B.
This guy is one of the best contributors on twitter, but he made a huge mistake in this tweet. Can you spot it?
Okay, maybe it's not that big a deal. Maybe he's not wrong; he just could have said it better, pointing out one additional data point.
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Area Under The Curve
By the way, do folks remember this?
What was the area under the curve? Glad you asked.
The above is the "personal saving rate," somewhat related to "household wealth" which increased by $13.5 trillion for Americans during the pandemic.
The "rich get richer."
In fact, "investors get richer."
So, what's the denominator? What is total American household wealth?
Also, from FRED:
Recent stock market losses and losses in the housing market have tempered these gains. I don't have a dog in the housing market fight, but I'm buying a lot of shares on the equity market at significantly depressed prices.
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