-$29Trillion and Counting
For those that may not fully grasp the above, it stands for the loss, yes, loss as in $29Trillion dollars (e.g., $29,000,000,000,000.00) in global wealth now evaporated from stock and/or bank accounts, bond funds and more.
As reported via ZeroHedge™: Bloomberg’s Robert Fullem has reported that the combined disintegration of wealth (so far) via the MCI World Index™ and the Bloomberg Global Aggregate Fund™ has now dropped (again, read: lost) that staggering number since it’s peak in November 2021.
[Addendum: It’s also now been pointed out for a bit more context over at Rabobank™, again via ZeroHedge, that it’s been the worst 60/40 (e.g., stocks/bonds) portfolio return in 90 years and is the second worst in 122 years. But hey, it’s not like its the worst ever, so at least we’ve got that going for us, right? Right?]
There are two very specific points in the above that past subscribers may feel a twinge of remembrance but just can’t put their fingers on it. So, to offer assistance, here they are…
First: It was precisely in that November I returned to the show and declared my reasoning for it was, we were on the cusp of what no one in the mainstream business/financial media could see, let alone will consider and felt I deemed this so important it prompted my return to offer insight.
The second: It is the fact it’s precisely these two indexes (one for stocks, one for bonds) that are calculating the current destruction of both wealth and more that proves my point that many argued (more like insulted) against me for over a decade which was – there is no such thing as a safe diversified stock/bond strategy. Period, full stop. Because when the brown stuff hits the fan – it all goes down the toilet together, no matter what Tony Robbins says in his financial books.
Most so called “influencers” will take victory lap after lap that only for the luck osmosis could they claim any possible credit.
I spelled it out in detail, charts, levels and dates.
But then again, what do I know. I’m not on TV or have a social media presence, right?
It’s the reason why I just may.
© 2022 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.