Household Wealth Dips For Third Straight Quarter

[Purveyor]

Source: Reuters

WASHINGTON (Reuters) - The net wealth of U.S. households fell 0.8 percent in the second quarter as both home values and financial assets fell, marking the third quarterly drop in a row, the Federal Reserve said on Thursday.

The Fed said it has never before recorded three straight quarters of declining household wealth since it began tracking quarterly changes in 1951.

The U.S. central bank's "flow of funds" quarterly report showed the net worth of American households dipped to $55.993 trillion in the second quarter, from an upwardly revised $56.431 trillion in the first three months of 2008.

Read more: http://www.reuters.com/article/domesticNews/idUSWEQ00019320080918

[angstlessk]

1. heck of a job, booshie...gall dern...are we bathtub sized yet???

well, the 'fundamentals' are NOT FUCKING STRONG YOU IDJIT MCSAME!!!

[Zenlitened]

2. Senator McCain, this next question is for you...

:crazy: :crazy: :crazy:

[nilram]

3. I was going to object to the headline

because a "dip" implies coming back up. But I went to the link and I see they've changed the headline on you. It's now "Household wealth falls for third straight quarter." (my emphasis.) Much more accurate.

[GoddessOfGuinness]

4. I wonder if that includes the top 1% ...

I can't load the article.