June 3, 2013
The front page of the May 29 USA Today blared:
“Bull run gets solid footing
$12.8 TRILLION: Amount of new STOCK WEALTH produced in the broad market since the March 9, 2009 low … . confidence shows rally [is] more than Fed-induced ‘sugar high.’”
But the Federal Reserve’s May 30 analysis said “[American] households watched a total of $16 trillion in wealth disappear amid sinking stock prices and the rubble of the real estate market. Since then, Americans have only been able to recapture 45 percent of that amount on average, after adjusting for inflation and population growth.” Who do you believe?
Image Source: FXCC.com
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