$60 Trillion Loss (Great Depression 2009)

[talknet]

For past 80 years world economy has grown & crashed & grown bigger again. So people always think world economy will recover again.

Some damages are beyond repair. Example-: I used to trim a tree in my garden every year for 8 years. After each trim the tree would grow bigger & better. But the 9th year, I over-trimmed the tree and it never grew again. It Died.

$60 Trillion loss = Over-Trimming of world economy. The situation is "highly serious". According to Dr. Marc Faber, S&P 500 will reach 100-levels. So DOW Jones will also reach 2000-levels. This will wipe out further $60 Trillion.

That would be $120 Trillion loss for the world economy because Real estate and Commodities will crash Rock Bottom.

 

[talknet]

Quote from talknet:

That would be $120 Trillion loss for the world economy because Real estate and Commodities will crash Rock Bottom.

NEW YORK -- The real estate market is so bad that buyers are now scooping up homes for as little as $1,000.

There are 18 listings in Flint, Mich., for under $3,000, according to Realtor.com. There are 22 in Indianapolis, 46 in Cleveland and a whopping 709 in Detroit. All of these communities have been hit hard by foreclosures, and most of these homes are being sold by the lenders that repossessed them.

http://money.cnn.com/2009/01/08/real_estate/thousand_dollar_homes/index.htm?postversion=2009010812

 

[talknet]

Quote from tradersboredom:

if you lose 60 trillion somebody must have profited by 60 trillion. thee isn't 60 trillion dollars CASH in any bank.

No bank in the world has $60 Trillion. Where did this $60 Trillion vanish/got transfered?

The $60 Trillion DID NOT get invested in Stocks, Real estate, Gold, Commodities. Where did this $60 Trillion vanish/disappear?

 

[krazykarl]

Quote from talknet:

No bank in the world has $60 Trillion. Where did this $60 Trillion vanish/got transfered?

The $60 Trillion DID NOT get invested in Stocks, Real estate, Gold, Commodities. Where did this $60 Trillion vanish/disappear?

You pulled the 60 Trillion number from your ass. Stop being an alarmist and be realistic.

 

[talknet]

I think, according to Dr. Marc Faber "actual loss" is $60 Trillion.

So the eroded wealth = actual loss + unknown amount. Maybe that is more than $100 Trillion.

 

[clacy]

Quote from talknet:

I think, according to Dr. Marc Faber "actual loss" is $60 Trillion.

So the eroded wealth = actual loss + unknown amount. Maybe that is more than $100 Trillion.

Maybe it's a quadrillion. Or maybe $100 quadrillion. Or maybe a googolplex?!?!??!

 

[fearless9]

Quote from southamerica:

...................................

Why?

Because a big chunk of that figure is just deleveraging losses and hot air from massive speculations around the world.

After the dust settles the real economy still be there and most people still have jobs.

This my reasoning as well SA.

The highly leveraged cowboys will see their paper wealth cut from 100s billions down to the few millions of real money that they stole from their clients as they walk away.

The poor are always poor, so it is left to the middle class to take one for the team.

The reason I write in the future tense is because the mess has only just built up a head of steam.

"Our future lies ahead of us" .... don't you just love this expression

regards
f9

 

[andrasnm]

This is real interesting...I would not say that for every loser there is a winner as global assets and economies are not a "zero sum game" BUT there is a lot of money sloshing around and eventually people will get back to buying real assets (RE) and commodities (like food). I get solace from the saying "when it is darkest at night it is the closest time for dawn".
Saying beyond rescue is likely an accurate thing, but I am seeking the silver lining in this, which to me, is a coming of new age and new economy, better stronger and smarter, after the so called global cluster fuck we had for 20+ years...

Quote from talknet:

By some estimates, combined losses in commodities, stocks, bonds, real estate are greater than $60 trillion. This is beyond rescue. The chart below, borrowed from Dr. Marc Faber's Market Commentary December 1, 2008, is devastating. The chart shows a stunning loss of $30 trillion stock market wealth around the world.

http://www.marketoracle.co.uk/Article7923.html

 

[stock_trad3r]

Or quadrillion dollar loss by some estimates.

 

[GTS]

Quote from stock_trad3r:

Or quadrillion dollar loss by some estimates.

Shouldn't you be off crying into your pillow?

Oh wait, its only another 3% down day or as you euphemistically like to say "light volume orderly sell-off"