Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Chispas who wrote (81791)	7/20/2008 2:05:11 PM
From: John McCarthy	Read Replies (1) of 116555

Chispas -- thanks! I've been looking for a touchy-feelie like this ... this cuts thru the fog ... >>>>>>>>>> But we could be looking at $6 trillion in mark downs of housing wealth, $3-4 trillion in stock market losses if we get a 25-35 percent mark down in the market – and it could be worse – and then we have the losses of the banking system. So we are talking about possibly $10 trillion as compared with a GDP of $13 trillion. Proportionally, I would look for the UK to suffer similarly. It's not chicken feed! >>>>>>>>>> not to mention higher unemployment rates ... bazooka consumer costs .... the inevitable banking derivative implosion .... regards, John

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