Holy Notionals, Batman! This Market is Fucked
Dood, I don't know anything about Teh Economies, but this doesn't look good to me. IIRC the US GDP is ~13 trillion. Those numbers above kind of dwarf that.
A reader named Bex and the Agonist crew are having a really good discussion where I found that graph. He wonders: if all these people are losing all this money, who is making it? Where is it going? And I'd add: what expectations will those people have politically, now that the financial power is shifting so graphically and rapidly?
Yes, some of the money "lost" is little more than overvalued things becoming properly valued by those who own them. But I think Bex is right to remind us that at least some people are/will make a killing before this bloodbath is over. Who are those people, and what should I expect from them in terms of their political participation?
You just know anyone who makes a lot of money off of this mess isn't going to be a champion of progressive regulation of the markets, that's all I'm sayin.