Northern Country

How globalization changes capitalism, the economy and politics

Posts Tagged ‘flow of funds

US households are not poor yet

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For all those who are concerned about the credit rating of the United States the newest flow of funds data from the Federal Reserve should provide some assurance. Combined net worth of American households is still at 50.38 trillion US dollar in the first quarter of 2009.

The recession has taken a big bite out of American’s fortune. The value of Americans’ stock holdings dropped 5.8 percent from the final quarter of last year. The value of real estate fell also, homeowners had only 41.4 percent equity in their homes left in the first quarter.

A slimmer of hope that the severe recession is easing. During the final three months of 2008 net worth shrank by a record 8.6 percent.



Written by Alfred

11. June 2009 at 8:12 pm