Seeking Alpha

Household net worth rose $1.7T to $64.8T in Q3, according the Fed's Flow of Funds report (if you...

Household net worth rose $1.7T to $64.8T in Q3, according the Fed's Flow of Funds report (if you like data dumps, this one is for you). Domestic nonfinancial debt grew 2.4% in Q3, with households continuing to deleverage, but businesses (+4.4%) and the federal government (+6.2%) picking up the slack. From 2002-2006, households added to debt levels at double-digit rates.
Comments (16)
  • june1234
    , contributor
    Comments (2495) | Send Message
     
    When you lose your job you get deleveraged.
    6 Dec 2012, 12:30 PM Reply Like
  • medzjohn
    , contributor
    Comments (220) | Send Message
     
    Yes, and those who didn't lose their jobs are being sucked dead by the banks to make up for those who did and defaulted.
    6 Dec 2012, 12:37 PM Reply Like
  • The_Hammer
    , contributor
    Comments (3806) | Send Message
     
    you ain;t seen notting yet. As fed aid to states declines so does aid to municipalities, states and municipalities will have to raise taxes to pay for such bloated pensions and public worker compensation, education and infrastructure. Higher property,state and sales taxes here we come.
    6 Dec 2012, 01:06 PM Reply Like
  • blueice
    , contributor
    Comments (3006) | Send Message
     
    More lies from the Central Bank...Most of this so called decline, come from past and future foreclosures and bankruptcies...

     

    These households will not partake in the market place for years to come...

     

    And what is advancing today's economy it sure is not income growth...
    6 Dec 2012, 12:42 PM Reply Like
  • Tom Armistead
    , contributor
    Comments (5219) | Send Message
     
    When a very vocal and determined minority undertakes to remove the security net, predictably people start hanging onto dollars to protect against unemployment or illness occurring and nobody will help.

     

    Of course, that's recessionary.

     

    So the uncertainty created around entitlements makes a lot of people unwilling to incur debt in their personal life. CEO's and the wealthy aren't the only people who suffer uncertainty over the fiscal cliff.
    6 Dec 2012, 12:49 PM Reply Like
  • surfnspy
    , contributor
    Comments (415) | Send Message
     
    Amen Tom!
    6 Dec 2012, 01:04 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    TA: Keynesian logic. People saving to invest for their own retirements and medical care is not recessionary. Government spending other people's money to funnel into "entitlements" for those who pay less into the system than they get (and for their votes): recessionary and corrupt.

     

    Signed, vocal and determined minority
    6 Dec 2012, 04:09 PM Reply Like
  • The_Hammer
    , contributor
    Comments (3806) | Send Message
     
    Propped up asset prices will not last forever. this freak bernank thinks propped up phony prices make for real wealth.
    6 Dec 2012, 01:02 PM Reply Like
  • blueice
    , contributor
    Comments (3006) | Send Message
     
    Amen Hammer!

     

    Hear is the report from the NY Fed...I believe the saving rate in the past two years has also declined...

     

    http://bit.ly/TV8LWs
    6 Dec 2012, 01:11 PM Reply Like
  • dividend_growth
    , contributor
    Comments (2878) | Send Message
     
    Sounds like lots of sour grapes who missed the gravy stock market train.
    6 Dec 2012, 01:57 PM Reply Like
  • The_Hammer
    , contributor
    Comments (3806) | Send Message
     
    dividend u talking about me?
    the gravy train left the station 3+ years ago buddy.
    6 Dec 2012, 02:03 PM Reply Like
  • bbro
    , contributor
    Comments (9315) | Send Message
     
    Savings Deposits to GDP is at 40.6%... all time high...
    6 Dec 2012, 04:14 PM Reply Like
  • The_Hammer
    , contributor
    Comments (3806) | Send Message
     
    savings deposits are what?
    6 Dec 2012, 04:58 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    It is positive for debtors to pay their debts and not blame creditors and penalize savers for their misfortunes or bad decisions.

     

    Congrats to those who cashed out on the stock market booms and on the real estate booms and have the room to reallocate capital.
    6 Dec 2012, 04:15 PM Reply Like
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    Confusingly median household net worth is down substantially, 30% plus, from the peak in 2007.

     

    So in the Obama economy apparently the rich keep getting a lot richer :)

     

    Good for them, I say.
    6 Dec 2012, 04:51 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1554) | Send Message
     
    Cool, did you forget how much value houses lost? And that is the largest part of most peoples' net worth (not for the rich though)?
    6 Dec 2012, 08:07 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|