Thank you US housing market! Thank you realtors! Thank you mortgage brokers! Thank you appraisers! Thank you homebuilders! Thank you housing gamblers!
What's the next set of numbers called after "trillion"? I think we'll need to learn that one soon.
World bourses lost 5.2 trillion dollars in January
World stockmarkets lost 5.2 trillion dollars (3.6 trillion euros) in January thanks to the fallout from the US subprime crisis and fears of a global economic slowdown, Standard & Poor's said Saturday.
"If investors thought the market could only go up, January's wake-up call pulled them back into reality," the independent credit ratings' provider said.
Standard & Poor's said the world's equity markets lost a combined 5.2 trillion dollars as emerging markets fell 12.44 percent and developed markets lost 7.83 percent to register one of the worst starts to a new year.
February 10, 2008
We've said that when all is said and done, that TRILLIONS would be lost. January was a good start, with $5.2 trillion in the marketed wiped away.
Posted by blogger at 2/10/2008