Household wealth dropped by $13.5 trillion from January to September, second-worst destruction on record


us collapse economic worthy christian news

(Worthy News) – American households lost about $6.8 trillion in wealth over the first three quarters of 2022 as the stock market shed more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts.

Nominal net worth fell 4.6% to $143.3 trillion, as the market value of assets fell by $6 trillion and liabilities rose by about $900 billion. Households’ balance sheets -assets minus liabilities—were propped up by a 10% increase in home equity, which is the greatest source of wealth for most American families.

But the loss in real wealth from January through September was about twice as large as the nominal loss — $13.5 trillion in current dollars—after accounting for the rapid inflation experienced this year. Inflation makes both debts and liabilities worth less in terms of purchasing power. [ Source: MarketWatch (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!

Latest Worthy News

US Watchdog: Syrian Government Allies Continue Deadly Attacks Against Christians and Other Minorities (Worthy News In-Depth)
Federal Judge Halts Medicaid Defunding Provision Targeting Planned Parenthood in Trump-Backed Spending Law
Trump Defends Bolsonaro, Slams Brazil’s Coup Trial as ‘Witch Hunt’
U.S. Tariff Revenue Projected to Exceed $300 Billion in 2025, Inflation Unaffected, Treasury Says
Trump Reverses Course, Vows More Weapons for Ukraine Amid Escalating Russian Attacks
Trump, Netanyahu Unveil Controversial Postwar Gaza Vision Amid Ceasefire Push and Regional Strikes
USAID Shipped 11,000 Virus Samples to Wuhan Lab Without Formal Agreement or Oversight, Documents Reveal
IRS Says Churches Can Endorse Political Candidates Without Losing Tax-Exempt Status
Iranian Missiles Struck Five Israeli Military Bases During 12-Day War, Satellite Data Reveals
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News