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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Srini who wrote (101000)2/6/2009 2:15:56 PM
From: benwood1 Recommendation  Read Replies (1) of 110194
 
A simple answer to me is that 2/3rd to 3/4th of my net worth is *not* in my home. So I'd end up losing most of what isn't my home, meaning my net worth would decline about 60-75%.

If you had no assets whatsoever, you'd in theory be the winner because you wouldn't suffer a decline in asset value through taxation or otherwise. But as Zimbabwe has shown with it's 80% unemployment rate, there are massive downside risks to the economy. So my property tax would skyrocket, and I'd have a good chance of losing my job.

And throw unemployment numbers that high at the Entitlement Generation and you will see bratty teens in the streets (even if they are 20-80 years old still).
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