Holy Frack Are We Poor

World stock investors lose $29 trillion in a year (through Oct 12–it’s worse now).

From J. Kyle Bass at Hayman Advisors, who is more bearish than Roubini:

As Hayman notes, the reverse wealth effect on spending will be staggering. And then there’s that $25 trillion of debt we somehow have to pay off or default on.

See Also:
More Bearish Than Roubini
What Does “Deleveraging” Really Mean? Cutting $25 Trillion of Debt

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