[OPE] Next US Flow of Funds data release

The next quarterly US Flow of Funds data set is scheduled for release on 11 December 2008 http://www.federalreserve.gov/releases/z1/

In mid-2008, total US household "net worth" was estimated in the FoF at $56 trillion. http://www.federalreserve.gov/releases/z1/Current/z1r-1.pdf There was a "slight" shrinkage of $0.4 trillion from the previous quarter.

Assuming 118 million US households in 2008, that gives a midyear "average" of $474,576 "net worth" per household.

So where is the worry about debts?

Why are people panicking about it?

Plenty of opportunities for research by American Marxist economists!

Here's a clue: based on 2004 estimates, the top 25% of US households (29.5 million households) own circa 87% of this "net worth", or $48.7 trillion, the middle 50% (59 million households) own 13% of the net worth or $7.3 trillion, and the bottom 25% (29.5 million households) owns as good as zero net worth.

Jurriaan

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Received on Sat Dec 6 21:54:42 2008