DreamHost makes babies scream and old men with lung cancer cry. Sometimes, it has been said, they eat their young and take their pets to the opera.
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.