Since the start of June, global equity markets have lost over $13 trillion.
(The last time global market dropped this much – Bernanke unleashed QE2)
World market capitalization has fallen back below $60 trillion for the first time since February 2014 as it appears the world’s central planners’ print-or-die policy to create wealth (and in some magical thinking – economic growth) has failed – and failed dramatically.
To rub more salt in the wounds of monetray policy mumbo-jumbo, despite endless rate cuts and balance sheet expansion around the world, the last 4 months have seen an 18% collapse – the largest since Lehman.
It appears “Wealth” creation is just as transitory as The Fed thinks every other outlier is.