Chronicles Of Depression 2.0: #246: $46T
On CNBC, I heard the highest trillion figure I’ve ever heard applied to this crisis: forty-six trillion dollars of housing underlying the crisis.
This is in America alone.
There have been real estate bubbles in other countries during this time too: England, Ireland, Spain, and others. They also have problems. (See, for example, Denmark.)
Forty-six trillion dollars.
Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.
Be alert. But don’t fall into fear.