Summary 3: Biggest Slump on Record Came to an End.

U.S. household net worth rose $2 trillion in second quarter
By Bloomberg News, USA TODAY
(http://www.usatoday.com/money/economy/2009-09-17-net-worth_N.htm)

Summary: After the biggest slump since 1980, consumer spending has started to improve this quarter adding a gain in wealth. This improvement is supplemented by federal stimulus measures such as extended jobless benefits, tax credits and the cash-for-clunkers program. It all happened in the second quarter when household wealth increased by $2 trillion in the United States. Americans are also taking on less debt and saving more. This decision has caused a savings rate up to six percent of disposable income in May. Since consumers are holding back on spending, some economists feel that this savings rate will only continue to increase. On top of all that, net worth for households and non-profit groups climbed to $53.1 trillion in the first quarter. There was an increase by $1.4 trillion in the second quarter for household net worth in corporate stocks and mutual funds as well. Some of these jumps were the largest since 1998.