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According to the Federal Reserve’s quartertly “Flow of Funds” report, the total net worth of American households rose in the first quarter this year.
If you add up the net worth statements (balance sheets) of all households, like my most recent update), you’ll find the total to be $53.8 trillion for the end of March. That’s a $1.4 trillion increase (almost 2.5%) over December, 2005.
Nonfinancial debt — all debt including government, household, and corporate (excluding financial organizations) — soared 11% since the last quarter.
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Is that first line some sort of SEO trick? ;-)
Sometimes I look for creative ways to express frustration.
This mornings news reports Nancy Pelosi will try and help raise taxes on americans making more then 500K a year, you will not hear a loud outburst from the public about that!
Let the CEO’s who steal billions pay millions on it then the incentive to steal billions will not be there.