We had an interesting discussion on the “forum” regarding some input from a member of our “family” stating that the U.S. is “right around the corner” from a major depression. Two of the statistics he used to support his argument were the export levels and the amount of personal equity held in people’s homes.
If, in fact, we are close to the onset of this catastrophic event these two statistics would be screaming the obvious: “There is serious trouble in Mudville”
Regarding the home equity situation here are two interesting charts:
Now, I have to absolutely agree that for someone 65 years or older to only have $125k to $130k in home equity is a pretty sad state of affairs.
Now, let’s consider total net worth with a breakdown including home equity and other categories. That number is even more frightening!
If Kathy and I could only access a bit over $31K from assets other than our home equity, I guarantee you that I would not be sleeping at night.
Regarding export numbers, through September of 2015 on a total census basis exports were $126,552 (million) and that is the lowest number since 2010 when it came in at $107,334 (million).
Is Big Al concerned? You bet and you better believe that there is serious trouble in “Mudville” because I think that Casey is about to go down!