The broad inflation in the prices of bonds, stocks, real estate, cryptos and just about every other financial asset produced an extraordinary surge in wealth. In the years between the stock market trough in early 2009 and the tenth anniversary of Lehman's bankruptcy, US household wealth nearly doubled. By late 2018, American households were worth more than $100 trillion, a sum equivalent to five times US GDP. By comparison, household wealth in the post-war decades averaged just over three and a half times GDP. Total household wealth was higher than at its twin peaks in recent real estate and internet bubbles. Never before had Americans been so rich. Never before had they done so little to amass so much wealth.
-Edward Chancellor, The Price of Time: The Real Story of Interest
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