The Federal Reserve released their flow of funds Q2 report last Friday. Over 160 pages of data, the report shows debt, wealth, GDP distribution.
According to the Huffington Post, we just got a whole lot poorer (you are shocked I'm sure!):
The net worth of households and non-profit organizations dropped $1.52 trillion during the period from April 1 to June 30 of this year, according to the report released Friday. The new figure, $53.50 trillion, represents a 2.8 percent decline from the previous quarter..
Asset International analyzed the benefit and retirement plan assets, this isn't too good either:
US corporate defined benefit and defined contribution plans had combined assets of $5.32 trillion as of June 30, a 6.8% drop from three months earlier.
As of June 30, while corporate DB plan assets amounted to $2.05 trillion, down 5.4% from the previous quarter, corporate DC plan assets came to $3.27 trillion, down 7.5%, as reported by Pensions & Investments. Meanwhile, total assets in state and local government retirement funds were $2.56 trillion, down 8.2%, while the federal government’s retirement funds totaled $1.311 trillion, down 1%.
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