“Since JoeB wasn't about to admit that his spendthrift ways were at the root of inflation, it was inevitable that the beast would be difficult to tame. In typical government fashion, our geniuses never even contemplated addressing the cause. When you have a gushing wound, applying pressure only gets you so far - you need to stitch up the artery at some point.”
I struggle with that mean number. If the average home value is 410,000 (and is heavily mortgaged) and average retirement savings is 65,000, I don't see how one gets to a million for the mean. The median is a much better indicator - being that it's not skewed by the uber wealthy. That number is a small fraction of the mean - about 250,000. And that number is mostly home equity - which is NOT a liquid asset, being that if one sells that asset, they STILL need to find a place to live.
“Since JoeB wasn't about to admit that his spendthrift ways were at the root of inflation, it was inevitable that the beast would be difficult to tame. In typical government fashion, our geniuses never even contemplated addressing the cause. When you have a gushing wound, applying pressure only gets you so far - you need to stitch up the artery at some point.”
I struggle with that mean number. If the average home value is 410,000 (and is heavily mortgaged) and average retirement savings is 65,000, I don't see how one gets to a million for the mean. The median is a much better indicator - being that it's not skewed by the uber wealthy. That number is a small fraction of the mean - about 250,000. And that number is mostly home equity - which is NOT a liquid asset, being that if one sells that asset, they STILL need to find a place to live.
I read that there were a great many millionaires in the Weimar Republic as well.