In the Fed's latest Flow of Funds report released at noon today, the US central bank released the latest snapshot of the US "household" sector as of Sept 30, 2018. What it revealed is that with $124.9 trillion in assets and a modest $15.9 trillion in liabilities,the net worth of US households rose to an all time high $109 trillion, increasing for 12 consecutive quarters and up $2.1 trillion as a result of an estimated $245 billion increase in real estate values, as well as a $1.9 trillion increase in various financial assets like corporate equities, mutual and pension funds, and deposits as the market soared to just shy of new all time highs in the second quarter, even if it needed some time in Q3 to reach a new record just days before the quarter ended.
Total household assets in Q2 rose $2.3 trillion to $122.7 trillion, while at the same time total liabilities, i.e., household borrowings, rose by only $132 billion from $15.6 trillion to $15.7 trillion, the bulk of which was $10.2 trillion in home mortgages.Homeowners’ real estate holdings minus the change in mortgage debt rose by $320.1 billion (a positive number means that the value of real estate is growing at a faster pace than household mortgage debt).
The breakdown of the total household balance sheet as of Q3 is shown below.
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The Central Bank cannot create wealth by printing currency (debt). These reports of wealth gains are an illusion. Debt is not wealth and the currency is a debt to the banking families who own a he Fed in secret.
ReplyDeleteTime to wake up and educate ourselves!
The important part in daily lifestyles is knowing your debt as well as the US debt. You know your limitations, while the Country (which is ours through taxes) has a $22 TRILLION debt (college students owe $1.5T and credit card is over $1T of that).
ReplyDeleteAll the other stuff, its numbers.
Happy Sunday to ya!
Well yea, we tend to count t using numbers. In this case the numbers represent US Dollars which were printed out of thin air but must be “paid back” with interest.
ReplyDeleteA big number means a bigger interest payment.
So you are saying you can prove anything with statistics? Most people don't care about the National debt. They are concerned with number one. As it should be. We elect politicians to take care of the National debt.
ReplyDeleteHey Joe, I know this is off topic, but viewers should submit some pictures of the "Dusting" that Dan predicted we would get on Friday nights broadcast.
ReplyDeleteI just finished shoveling some of that dusting just now. Definitely more than and inch and it's still coming down at 5:30!
All of this will freeze tonight, and it's going to be a mess when we have to drive to work tomorrow morning!
No gold is in Ft Knox,but since no one accepts that fact the gold standard remains strong.
ReplyDeleteFull of gold. Been in the basement
Delete6:05
ReplyDeleteThe US Fed (private bank) depegged from gold in 1971. It is now a fiat currency.
Pretty sure Breton Woods ended in the 70s
ReplyDeleteDon't tell Socialists, they want to take it from you.
ReplyDeleteBen Jealous, Dan O'Hare, Jamaad Gould, Bill McCain, Michele Gregory, Josh Hastings, Jared Schablein, Jake Burdette, Seamus Benn and Lowlifes of the Lower Shore Progressive Caucus were hoping to all get elected so that they could raise taxes on white people to spread the wealth.
ReplyDelete