ML-Implode News - St. Louis Fed: Household Net Worth Still Hard Hit by Crisis

In the report, the bank said data shows a near complete recovery in total aggregate wealth is misleading. The analysts argue aggregate household net worth data isn't adjusted for inflation, population growth or the nature of the wealth. They noted a lot of the recovery in net worth has been tied to the stock market, and is thus concentrated in holdings of wealthy families.
"Clearly, the 91% recovery of wealth losses portrayed by the aggregate nominal measure paints a different picture than the 45% recovery of wealth losses indicated by the average inflation-adjusted household measure," the report said. " Considering the uneven recovery of wealth across households, a conclusion that the financial damage of the crisis and recession largely has been repaired is not justified," the researchers said.

So basically the Fed's pumping of the stock market is being used directly to paper over the permanent depression conditions that continue in most of the country. Someone must be unhappy the St. Louis Fed is spilling the beans on this.

Relevant:

St. Louis Fed: Household Net Worth Still Hard Hit by Crisis