Australian Household Wealth Hit a Record $14.9 Trillion in Q1 2022 Rising 15.3 per cent Over the Year

Australia’s total household wealth hit a record $14.9 trillion at the end of March, the Australian Bureau of Statistics said Thursday. Australian household wealth increased by 15.3 per cent in the year to March 31, it grew by another 1.2 per cent in the first quarter of the year and surged 35.5 per cent since the beginning of the COVID-19 pandemic. In comparison Americans’ household wealth took a hit in the first quarter of 2022, it fell to $149.3T. Both … Continue reading “Australian Household Wealth Hit a Record $14.9 Trillion in Q1 2022 Rising 15.3 per cent Over the Year”

American Household Wealth Falls $1.49.3 Trillion Losing $3.0 trillion in Stocks in Q1 2022

Americans’ household wealth took a hit in the first quarter of 2022, it fell to $149.3T. Stock prices fell sharply off record highs after the Federal Reserve began talking of QT and raising rates to combat inflation. Global economy slackness from the Russian invasion of Ukraine and Chinese Covid lockdowns also impacted asset prices negatively. Still Household Net Worth was up $12.706 TN (9.3%) over one year and $37.830 TN (33.9%) over three years – in history’s greatest inflation of … Continue reading “American Household Wealth Falls $1.49.3 Trillion Losing $3.0 trillion in Stocks in Q1 2022”

Hong Kong’s Mandatory Provident Fund Hit By China Evergrande Contagion Has Worse Performance Since 2018

Hong Kong’s compulsory pension scheme MPF lost each member HK$10,800 (US$1,387) in the third quarter as China regulatory and Evergrande debt crisis converged in a perfect storm to crack markets lower.

American Household Wealth Grows $1.7 Trillion to New Record

U.S. President Trump may be the most divisive President in History but the Federal Reserve shows Americans are getting weathier with him. U.S. household wealth increased in the second quarter to yet another record by $1.7 Trillion to $96.2 trillion, following a 2.327 Trillion gain in the first quarter.