Could it be?! GOOD economic news?!
Here's a strory cBS,nBS and aBS refused to report tonight!
"US household wealth swells to record in 2nd qtr--Fed
WASHINGTON, Sept 16 (Reuters) - U.S. household wealth swelled to a new record in the second quarter of 2004, while borrowing outside the financial sector grew at a slower pace, the Federal Reserve said on Thursday.
In its quarterly "Flow of Funds" report, the Fed said household balance sheets increased 1.4 percent to $45.907 trillion in the second quarter, compared with an upwardly revised $45.270 trillion in the first quarter of this year.
First-quarter household wealth was initially reported at $45.153 trillion, which had been a record high.
Much of the increase in household net worth came from rising real estate values. The Fed said the market value of household real estate, which includes owner-occupied homes, second homes and vacant land, rose 2.9 percent to $15.713 trillion in the second quarter. "
_http://cnn.netscape.cnn.com/ns/news/story.jsp?id=2004091616140002567164&dt=20040916161 400&w=RTR&coview=
Great Googly Moogly! Why would cBS,nBS and aBS REFUSE to report good economic news? I'll let our savy members connect the dots.
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