The following information comes from the balance sheet's of the Federal Reserve's Flow of Funds Report
1.) Since the 4th quarter of 2007, US households have lost $7.09 trillion in net worth. The big categories are:
-- $2.9 trillion from real estate
-- $2.4 trillion from corporate equities
-- $.990 trillion from mutual funds
-- $1.8 trillion from life insurance
That's a ton of losses, isn't it?
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7 comments:
Virtual losses built on virtual gains. Yawn.
1.8 T from Life Insurance?
"1.8 T from Life Insurance?"
Yea I dont get it either... hum....
if its make believe value in make believe dollars on things that really aren't tangible where's the loss?
Jeremy Grantham's recent newsletter estimates the losses and how far we have to go:
www.gmo.com
You have to register but it is free.
Anonymous comment 1 and 4, why don't you ask some retirees "where's the loss?", jerk
Here is an article that you will be seeing more (yawn-er):
10 Best Cities for Job-Seeking Retirees
http://finance.yahoo.com/focus-retirement/article/106478/10-Best-Cities-for-Job-Seeking-Retirees?mod=retirement-lifestyle
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