TOO LITTLE DEBT TO NOTICE:

U.S. Household Net Worth Rises (JEFF BATER And LUCA DI LEO, 6/10/10, WSJ)

Household debt fell at a 2.5% annual rate to $13.54 trillion in the first quarter. The household sector's debt level, which includes both consumer credit and mortgage loans, remained at about 20% of total assets in the first quarter. The ratio is down from a peak of around 22.5% in the first quarter of 2009, but still well above a ratio of about 15% in the mid-1990s. [...]

The Fed report showed that U.S. households' total net worth, meantime, climbed 2%, to $54.57 trillion.