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

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In