Replies to post #616645 on Zeev's Turnips Patch-No Politics (ZEEV)

[cash2go]

Alex - the truth in that is what keeps me up at night

NEW YORK (Reuters) - Private equity company Blackstone Group LP (BX.N) CEO Stephen Schwarzman said on Tuesday that up to 45 percent of the world's wealth has been destroyed by the global credit crisis.

"Between 40 and 45 percent of the world's wealth has been destroyed in little less than a year and a half," Schwarzman told an audience at the Japan Society. "This is absolutely unprecedented in our lifetime."

http://www.reuters.com/article/wtUSInvestingNews/idUSTRE52966Z20090310

Nobody wants to use the word deflation. I think we are calling it deleveraging so that we don't use the biggest word, Depression.

The Great Deleveraging, sounds better to me.