MILLIONS of Americans to be EVICTED from their homes as economic collapse accelerates

European Union sentences hundreds of millions to perpetual poverty after passing new ‘carbon emissions’ bill

Your Standard Of Living Is Being Systematically Destroyed

Is “Meltdown” The Correct Term To Describe The Current State Of The U.S. Economy?

Catastrophic Inflation: “I’ve Never Seen Prices Jump This High, This Fast”

Into The Abyss We Go…

This Winter, We Could Potentially Be Facing Simultaneous Shortages Of Oil, Natural Gas, Propane And Coal

World economies warn of global risks, call for bold action

A general view shows the International Monetary and Financial Committee (IMFC) before their meeting at the World Bank-IMF annual meetings in Washington October 11, 2014.              REUTERS-Joshua Roberts

Household wealth climbs as debt inches higher

Photo credit: columbianewsservice.com

By Steve Goldstein, MarketWatch

WASHINGTON (MarketWatch) — Household wealth climbed in the second quarter while household debt barely budged, continuing a seesaw pattern as outstanding mortgage obligations declined while auto and student debt mounted, according to data released Wednesday.

Household net worth grew by $1.3 trillion, or 1.8%, to $74.82 trillion, owing to gains in prices that boosted house values by about $525 million as well as a boost of nearly $300 billion from gains in the stock market and mutual funds.

Household debt meanwhile rose a seasonally adjusted annual rate of 0.2% in the second quarter, the Federal Reserve said in its voluminous “financial accounts of the United States” report that’s also known by its former name, the flow-of-funds report.

That marks the sixth straight quarter in which household debt has wavered between gains and losses.