Ocean’s $11T

Reuters reports that US households lost $11.2T in wealth… correct me if I am wrong but isn’t that roughly the same amount that we are now on tap for in the bailout? (read the Reuters article here) Now this is probably coincidence… but the symmetry is startling.

Nevertheless… when $11T is in play, one cannot be too careful. I just find it odd that the very same amount that we had to inject into the financial system winds up being the amount we lost. What’s more, we paid up with future dollars in the form of taxes so we can essentially double the amount.

I know that in the capital markets, there is a loser for every winner.  Perhaps, just perhaps, we – the American taxpayer/consumer have just been taken in the greatest robbery trade in the history of the world?


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s