Negative ‘Wealth Effect’: $100 Trillion+ and Counting
by Danielle Park
Juggling Dynamite
As pointed out by Zerohedge today and shown in their chart below, the equity market rout over the past 6 months has so far evaporated over $16 trillion in paper wealth and returned global equity market values to 10% below the November 2007 peak–8 long years ago.
[...] This means that the rebound in stocks–that was purchased through the sacrifice of prudent fair value accounting standards (FASB 157 was set aside in March 2009) and trillions in tax dollars via bailouts, preferential treatment, and Central Bank injections since 2007– has been but a fleeting mirage. A mirage that diverted money to financial markets rather than other critical needs like infrastructure, health, education, savings and long-term investment for the future.
Continue Reading at JugglingDynamite.com…
Source: http://financialsurvivalnetwork.com/2016/02/negative-wealth-effect-100-trillion-and-counting/?utm_source=rss&utm_medium=rss&utm_campaign=negative-wealth-effect-100-trillion-and-counting
