May
13th
Wed
13th
The Absolute Return Letter points out a study by Reinhart and Rogoff where total government bond issuance to cover the costs of the financial crisis are estimated at $33 trillion (vs $10 trillion estimated by the IMF).
That would be roughly equal to total world private wealth (approx $30 trillion) and about a third of total world savings (that include, on top of private wealth, mutual and pension funds, insurances, reserves, ecc.) which amount to $100 trillion.
