The rise and rise of the global balance sheet: How productively are we using our wealth?

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> While economic growth has been tepid over the past two decades in advanced economies, balance sheets and net worth that have long tracked it have tripled in size. This divergence emerged as asset prices rose—but not as a result of 21st-century trends like the growing digitization of the economy. > > Rather, in an economy increasingly propelled by intangible assets like software and other intellectual property.. This seems self contradictory to me. I would have to think 1st world consumers no longer have the appetite for physical goods that they used to when dozens of new doodads were arriving to make home life easier in the 50s and 60s. Birth rates, also a major source of consumption, are down across advanced economies. The rise of digital products and services reflects, I think, a shift toward value of experience rather than object. You used to show off by having a nicer car or grill than your neighbors. Late millenial/early Zs do it by living in a van and posting experiences their working friends aren’t having to instagram to make them envious.


Does ~$500T in real assets and the same amount in stocks and bonds etc indicates that everything in existence is already claimed for a future generation? Or is it more complex than that? this is not a political comment based solely on the headline and comment length is a bad proxy for whether a comment is based solely on the headline because it could also be a comment about one small part of what was posted.