via @OccupyWisdom :
THE WEALTH DEFECT
Household net worth now 700% or 7X the amount of disposable income of the household. This is the direct effect of “asset” price inflation.
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See also This is the biggest house sale loss – but worse is to come as interest rates rise (New Zealand F*cked Borrowers who bought into the central bank's insane housing bubble while also electing a WEF puppet regime are getting what they voted for, good & hard)
Each bubble has progressively grown larger as incomes have stayed static.
People feel wealthy, but it’s only a feeling