Net worth = assets minus debts.
The net worth of the world’s bottom decile is minus a trillion dollars.
America has a lot of overindebted people. People underwater on their mortgages, recent graduates with massive student loans, renters carrying five-figure car loans and credit-card obligations, uninsured people who just got out of hospital, you name it.
The US is the country with the second largest population of indebted people. Only India has more people with negative net worth.
However, the American poor people are poorer than the Indian people. The US poor people are able to rack up more debt than the poor Indian person.
Many Americans with medical bankrupcy and massive student loans will never see financial daylight.
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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