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To: grania
How much of the world's wealth has been wiped out?

None. The perception of wealth has been altered, but "no" actual goods or services disappeared (note the quotes around "no" -- I don't mean there has been zero residual damage, but when people talk about a $1T drop in stock market valuation being a $1T loss in wealth -- actual stuff -- that's just nuts).

18 posted on 01/20/2016 10:59:29 AM PST by Darth Reardon (During the Great Depression, World War I was referred to as the Great War)
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To: Darth Reardon
None (re: global wealth).

Tell that to retirees who have had to choose between 0% interest on savings or following advice and keeping it in "safe" stocks. Tell it to people who collect pensions when those funds run short. Tell that to folks who give up on saving for the future because the money gets wiped out. Tell that to municipalities which have property tax defaults because stock market value evaporated.

Wealth has been erased. That wealth is people's bottom line which adds in the value of their holdings.

24 posted on 01/20/2016 1:24:22 PM PST by grania
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