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Is America Wealthy?

2822766_sThere has been much debate going on about the American economy, and the wealth it generates for Americans. Some sections of the population tend to think that the Great Recession wiped out a good amount of wealth for America, but fortunately, it’s not true!

According to the latest data released by the Fed, households and nonprofit institutions amount for a whopping $86.8 trillion while non corporate businesses own $10.7 trillion. The remaining is split among corporate businesses that have $1.1 trillion and state and local governments that own $7.6 trillion. The rest of the world owns $5.8 trillion. Out of these, the federal government has a negative net worth of -$12.3 trillion mainly due to its national debt.

So, do you think a value of $100 trillion available in households, businesses and nonprofits a lot? Undoubtedly yes!

This is almost 165 times the value of Apple, which happens to be the most valuable company in the world. It is also five and a half times of the total GDP of the US as a whole.

All these numbers mean the US has enough resources to pay its current and future obligations, so there’s nothing really to worry about.

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