Net worth for households and non-profit groups decreased by $149 billion, a 1 percent drop at an annual pace, to $58.5 trillion, the Federal Reserve said today in its flow of funds report from Washington.
Friday, September 16, 2011
U.S. Household Worth Declines by $149 Billion
Household wealth in the United States dropped in the second quarter of 2011 for the first time in a year, hurt by falling share prices and declining home values.
Gary Kim has been a digital infra analyst and journalist for more than 30 years, covering the business impact of technology, pre- and post-internet. He sees a similar evolution coming with AI. General-purpose technologies do not come along very often, but when they do, they change life, economies and industries.
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