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Global Financial Assets Lost $50 Trillion Last Year
- Text size
Shamim Adam
Bloomberg
March 9, 2009
The value of global financial assets including stocks, bonds and currencies probably fell by more than $50 trillion in 2008, equivalent to a year of world gross domestic product, according to an Asian Development Bank report.
- A d v e r t i s e m e n t
“The loss of financial wealth is enormous, and the consequences for the economies of the world will unfortunately commensurate,” said Loser, now the Latin American president of strategic advisory firm Centennial Group Inc.. “There are serious economic and political stumbling blocks that may well cause the recovery to be costly and slow to consolidate.”
Some of the world’s biggest financial companies including Lehman Brothers Holdings Inc. and Merrill Lynch & Co. have collapsed as banks and other financial institutions reported almost $1.2 trillion of losses and writedowns since the start of 2007. Global stock markets lost about $28.7 trillion in 2008, and another $6.6 trillion has been wiped from the value of world equities in 2009.
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March 9th, 2009 at 2:22 pm
Psst! there are people making a difference right now!
http://WWW.WARNTHEPEOPLE.ORG
March 9th, 2009 at 2:22 pm
from http://www.globaleventsmagazine.com
The Rising Multi-Farious East
First coined by W. Joseph Stroupe, 2006
The Multifarious East is the rising composite pole of the East constituted by its true nucleus, Russia, around which various key powers increasingly orbit in ever tighter array. It does not constitute an empire built by Russia upon powers it has conquered, but rather a de facto global confederation (or bloc) Russia is assembling upon the foundations of shared political/geopolitical, economic, security and energy security visions. China occupies the innermost orbit very close to Russia. Virtually all the Asian powers, with the exception of Japan and Taiwan, increasingly orbit Russia as the emergent global energy kingpin. Even key European states such as Germany are being seduced and/or obliged to move ever more meaningfully into Russia’s political orbit, notwithstanding the pretense of being “Pro-US” of some new European leaders. Oil and gas exporting states of Central Asia are moving firmly into Russia’s orbit. The trend is also notable in the Middle East with the “Look East” policies of its key powers. India is moving more firmly into Russia’s orbit, despite “good” relations with the US for the purposes of acquisition of advanced technologies. Key African and Latin American energy exporting states are aligning with Russia and the East. All the members of the Multifarious East share a common world vision – the so-called “multipolarity” which, when translated, means an early end to US-led unipolarity. Increasingly, along political, geopolitical, security, energy, economic and diplomatic lines, these powers combine to form a de facto geopolitical bloc of the East opposed to (or at the very least unsympathetic to and unsupportive of) unipolarity and all its perpetuating fixtures, elements, instruments, manifestations, machinations and foundations
March 9th, 2009 at 2:22 pm
They lost nothing!
The taxpayers and the Fed covered the losses of these slime.
WHITE MUSLIM Reply:
March 9th, 2009 at 4:15 pm
YOU ARE EXACTLY RIGHT
The people in the power knew this was coming, so they are able to make money even on the losses!
This is why we have over 1 quadrillion – $ 1,000,000,000,000,000 in derivatives – when the whole world annual economy is only 50 trillion!
How can they pay all this out? They CANT!!! BUT THEY’LL KEEP BAILING OUT BANKERS AND SPECULATORS UNTIL EVERY SINGLE ECONOMY IN THE WORLD COLLAPSES.
THEN ITS TIME TO TURN IN YOUR GUNS AND LINE UP FOR FOOD STAMPS, IF YOURE LUCKY.
WILL YOU SUBMIT TO THE WILL OF SATAN? IS YOUR HOPE FOR THIS LIFE OR THE NEXT?
SATAN IS NOTHING BUT A SLAVE OF GOD, LIKE THE REST OF US, AND ALL OF CREATION. HE ONLY HAS WHAT POWER ALLAH GIVES HIM, NO MORE.
Realize this truth, submit to God, and Paradise will be your reward in the Next Life – the REAL LIFE.
PRAISE BE TO GOD AND PEACE UPON THE BELIEVERS
Jackson Reply:
March 9th, 2009 at 8:33 pm
That quadrillions in derivatives is why there will be no recovery. And believing in god will not save you either.
WHITE MUSLIM Reply:
March 10th, 2009 at 5:36 am
ACTUALLY IT WILL, IN THE NEXT LIFE IN EVERY ASPECT, AND THIS LIFE YOU WILL LIFE AND DIE IN KNOWLEDGE OF YOUR CREATOR AND SUBMISSION TO YOUR LORD
Outrage Reply:
March 9th, 2009 at 4:59 pm
Hold On! Obama-rama only covered the losses for his RICH CRONIES! The rest of us took it up the yang. My 401 lost oh…70% before I could pull my cash out. I didn’t even recover all of the money I put in. And I’m not alone. EVERYONE that will need a retirement income was devestated. ONLY THE ELITE & BANKERS WERE BAILED OUT!
What could the government have done with that bailout cash?
Give EVERY resident of the US a good check for over $30,000. Yeah, everyone living here.
Pay off every mortgage in the US. Not just the “troubled” ones, ALL OF THEM.
And about 9 Trillion other things.
Outrage Reply:
March 10th, 2009 at 4:51 am
What would the economy look like right now if Obama gave the banker bailout money to the people instead of the banks? What would be the net effect of every man, woman & child in this country getting $30,000? A family of 4 would get $120,00. How bad would the “recession” be?
OR… How bad would the economy be if the government just paid off all of the toxic mortgages? Or paid off ALL of the mortgages, just to be fair. And helped the rest of the country with their housing, like paid it. THAT’S WHAT THEY COULD HAVE DONE WITH 9.5 TRILLION FREAKING DOLLARS!!!!!!!!!! BUT OUR ILLUSTRIOUS LEADERS DECIDE TO THROW THAT MUCH MONEY AT THE BANKING SECTOR. THEN WHEN THE BANKS REFUSE TO PERFORM THEIR DUTY THE GOVERNMENT SHOVES MORE CASH AT THEM AS PUNISHMENT!!!!!!!!!!!!!!!!!!!!!!!!!!
March 9th, 2009 at 2:23 pm
thats ok….barky obushma will fix it.. he is Jesus, he will turn newspapers into one hundred dollar bills with the wave of the hand. . yeesh.
http://www.youtube.com/watch?v=zNOJc0w-fzY
March 9th, 2009 at 2:23 pm
Psst!…. There are people making a difference right now!
http://WWW.WARNTHEPEOPLE.ORG
Jackson Reply:
March 9th, 2009 at 8:34 pm
The only people making a difference, is the crooks in charge.
March 9th, 2009 at 3:18 pm
The internationalists know exactly which corporations to bail out of before they “collapse.”
How many corporate speculators were bailed out instead of reaping great loss for their crime of swindling the American people?
As soon as things turn the other way for these criminals, political hacks step in and rescue them.
Where did the “50 trillion” go? Somebody made a bundle.
March 9th, 2009 at 3:21 pm
BULL SHIT, you fat FUXs in the banking business you did not loose it was transfered to your criminal friends. The little guy lost and that the name of the FUXing game is’t it?????
March 9th, 2009 at 3:41 pm
Yeah right they Lost trillions? Since when?
They just transfered the fiat paper, into real assets. And claimed it as a Loss.
Because when you transfer a fiat into a real asset? You subvert the fiat. It will show up as a Loss.
Because the Fiat never had any real any worth to begin with.
March 9th, 2009 at 4:20 pm
Someone told me that the Federal Reserve is proposing a solution with a new Global currency in the form of paper bills, that will have a new moto that states, “Void After One Year.” This is to replace the IRS with a new global form of forced accounting, where everyone’s money must be in an, “approved account,” or be replaced within one year from the date of issue.
Has anyone heard any more on this proposal?
March 9th, 2009 at 5:30 pm
http://www.youtube.com/watch?v=G7X24_vOWwU
March 9th, 2009 at 6:12 pm
What kind of shit article has the word “probably” in the introductory sentence?
March 9th, 2009 at 6:16 pm
LOST???? LOL. Hey buddy… Can ya help me find my $50 trillion, I left it around here somewhere. It was sitting right here a minute ago. jfc.
March 9th, 2009 at 7:41 pm
@ Solutions- I think most knowledged Americans already have a solution for the Board members of the Federal Reserve and CFR.
March 9th, 2009 at 7:42 pm
Like My New Rope?
March 9th, 2009 at 11:41 pm
If you lose something…someone else finds it.
How come that person is not registered and balancing the loss??
But this money disappeared into thin air…..just like Madoff’s 50 Billion.
Either it was imaginary money or it existed and someone has it.
I don’t think the people who lost it think it is imaginary…
March 10th, 2009 at 12:00 am
Look at how ill-informed American people are about the current situation, just check out this site and read some of the comments. They have no clue what’s coming. .
http://www.newsvine.com/_quest.....?gt1=43001
March 10th, 2009 at 1:46 am
LOST???????????? It fuckin’ went somewhere!!! “ALL ‘HAIL’ Thermal Expansion!!!” Rotating Monikers now folks…soRRRy fucks hijacking others monikers!!!
March 10th, 2009 at 3:42 am
Let me see they know all about everything on the face of the earth and what they think its worth?
Something wrong with that story,maybe just more Bull Shit from the bankers.
March 10th, 2009 at 11:28 am
If everyone has lost so much cash where did it go and who has it?
March 10th, 2009 at 2:32 pm
What Loser is saying is absolutely correct; the policies of current administration are only worsening the problems. We need to take our lumps and remember the lessons of why collectivism is bad in the first place.