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

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

clusterstock-us