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Financial Crisis “Has Destroyed 40 Percent of World Wealth”
Posted By admin On January 30, 2009 @ 9:12 am In Featured Stories | Comments Disabled
George Washington Blog 
Friday, January 30, 2009
At the World Economic Forum in Davos, it was revealed  that Forty Percent of the World’s Wealth has been destroyed by the financial crisis so far.
As writers like Mish have repeatedly pointed out , even though the forces which could create hyperinflation (printing gzillions of dollars) are gigantic, the deflationary forces are – at present – even more enormous.
In other words, when you are Pumping Dollars Into an Airplane with a Hole in the Side , cabin pressure is not going to increase very fast.
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Indeed, the whole plane might go down before cabin pressure is ever restored to normal.
If the pilot manages to avoid crashing into the ocean, then we might have to worry about excess cabin pressure (hyperinflation created by too many dollars).
But – as of today – the plane is still quickly losing altitude.
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URL to article: http://www.prisonplanet.com/financial-crisis-has-destroyed-40-percent-of-world-wealth.html
URLs in this post:
 George Washington Blog: http://georgewashington2.blogspot.com/2009/01/financial-crisis-has-destroyed-40.html
 revealed: http://www.telegraph.co.uk/finance/financetopics/davos/4374492/WEF-2009-Global-crisis-has-destroyed-40pc-of-world-wealth.html
 pointed out: http://www.google.com/search?q=deflation&domains=http%3A%2F%2Fglobaleconomicanalysis.blogspot.com%2F&sitesearch=http%3A%2F%2Fglobaleconomicanalysis.blogspot.com%2F
 Pumping Dollars Into an Airplane with a Hole in the Side: http://georgewashington2.blogspot.com/2008/10/pumping-dollars-into-airplane-with-hole.html
 Image: http://www.efoodsdirect.com/products.html
 45 percent of world’s wealth destroyed: Blackstone CEO: http://www.prisonplanet.com/45-percent-of-worlds-wealth-destroyed-blackstone-ceo.html
 Pumping Dollars Into an Airplane with a Hole in the Side: http://www.prisonplanet.com/pumping-dollars-into-an-airplane-with-a-hole-in-the-side.html
 Did The Price Of Oil Help Cause The Financial Crisis Of 2008? Will Surging Oil Prices Soon Spark Another Financial Crisis?: http://www.prisonplanet.com/did-the-price-of-oil-help-cause-the-financial-crisis-of-2008-will-surging-oil-prices-soon-spark-another-financial-crisis.html
 There Might Be a Financial Crisis, But the World’s Arms Dealers Are Doing Just Fine: http://www.prisonplanet.com/there-might-be-a-financial-crisis-but-the-worlds-arms-dealers-are-doing-just-fine.html
 Eurozone debt crisis worsens as financial world holds breath over impending financial apocalypse: http://www.prisonplanet.com/eurozone-debt-crisis-worsens-as-financial-world-holds-breath-over-impending-financial-apocalypse.html
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