The Fed’s flow of funds survey shows that household net worth increased in Q2 for the first time since Q3 of 2007, the data shows. It rose $2 trillion to 53.1 Trillion.
Household debt contracted by 1.75% on at an annual rate, the fourth quarter in a row.
Government debt increased at a 28.25% pace, the report shows. Ouch.
Households in better shape, government worse…look for that trend to continue.