Thursday, October 13, 2011

No One Thinks Wall St "Owes" Us Anything


$44 trillion in wealth was lost around the world in the financial and banking failures of 2007-08. That’s $44,000,000,000,000 Wall St gambled away.

Context [2006 data]:

* $64 trillion = world’s output, the collective GDP
* $119 trillion = total value of stock and bonds
* $473 trillion = derivatives market valuation
* [Additional perspective, derivatives climbed to $684 trillion (as of June 2008)]

Wall St has created such a massive market out of speculation, that it dwarfs actual GDPs of the world. It’s 10 times the size. So if you want to think they are not in control, then wake up.

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