U.S. [household/consumer] debt grows at slowest pace on record. by Rex Nutting
WASHINGTON (MarketWatch) - U.S. [household/consumer] debt grew at the slowest pace on record during the fourth quarter, as households and businesses continued to deleverage, nearly offsetting another huge increase in federal debt, according to the quarterly flow of funds report released Thursday by the Federal Reserve. With businesses cutting their outstanding debt the most since 1991, nonfinancial debts increased at a 1.6% annual rate to $34.7 trillion at the end of the quarter, the smallest increase since the Fed began tracking the data in 1952. Meanwhile, household net wealth increased by $683 billion to $54.2 trillion, a 5.1% annual increase, the Fed said. ++++++++++++++++++
""""Meanwhile, household net wealth increased by $683 billion to $54.2 trillion,,,""""
,,,Freakin, therefore, if the Fed has a current accumulated debt of 12.4 trillion, that's 22.9 percent of America's entire net wealth.