Household net worth in the United States just plunged by record levels.
JUST IN – US household net worth falls over $6 trillion in Q2.
— Disclose.tv (@disclosetv) September 9, 2022
US Household Net Worth Crashed By Most Ever In Q2 https://t.co/DpTHRICpL3
— zerohedge (@zerohedge) September 9, 2022
US household net worth declined in the second quarter by the most on record as aggressive action by the Fed to tame rapid inflation sent stocks plunging https://t.co/UcoC2GWjI1
— Bloomberg Economics (@economics) September 9, 2022
I'm not an economist but I have some questions for @JoeBiden about household net worth seeing its worst-ever crash, down more than $6 TRILLION in Q2, if we have the "best economy ever."
— Jason Howerton (@jason_howerton) September 9, 2022
This is all by design. They dumped gazillions of dollars into the economy which caused out of control inflation. They are now raising interest rates at a pace that doesn’t do anything substantive to stave off inflation but is crashing stocks and the housing market.
The whole thing is shaping up to be a disaster of incredible proportions.
