Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: Haim R. Branisteanu	3/11/2010 12:30:14 PM
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TOTAL US outstanding debt - $34.7 TRILLION or close to 300% of GDP Nonfinancial business debt contracted at an annual rate of 3¼ percent in the fourth quarter, with all credit market instruments except corporate bonds showing a decline. The 1¾ percent decline in nonfinancial business debt in 2009 as a whole was the first yearly decline since the early 1990s. State and local government debt expanded at an annual rate of 4¾ percent last quarter, about the same as for the year 2009 as a whole. Federal government debt increased at an annual rate of 12½ percent in the fourth quarter, about half the rate of the past two years; for the year 2009, federal government debt rose almost 23 percent. At the end of the fourth quarter of 2009, the level of domestic nonfinancial debt outstanding was $34.7 trillion; household debt was $13.5 trillion, nonfinancial business debt was $11.0 trillion, and total government debt was $10.2 trillion. Household net worth—the difference between the value of assets and liabilities—was an estimated $54.2 trillion at the end of the fourth quarter, up $0.7 trillion from the third quarter. For 2009 as a whole, household net worth increased $2.8 trillion

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