US Household Net Worth Falls Most on Record

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Globally, debt and equity capital markets lost around $23 trillion of ‘wealth’ in Q2 as Putin’s invasion sent commodity prices higher, slammed stocks on recession fears, and central banks around the world engaged in policy-tightening to battle the inflationary monster at their doors.

In the US, The Fed’s Flow of Funds data issued today shows that US Households lost a shocking $6.1 trillion in Q2 – the largest quarterly loss ever (bigger than the aggregate loss reported in Q1 2020 during the peak of COVID lockdown policies around the world)…

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