Chart from EconomPic Data…Tim Harris of JPMorgan Asset Management has estimated the deleveraging for the global financial system at about $ 15 trillion…
Which suggests that we have over $ 14 trillion to go…
Where is the capital going to come from to replenish balance sheets?
Or is the hope to use the Treasury bailout to paint the tape on asset prices and to wiggle mark-to-market accounting enough to pretty up balance sheets… oh the life of accountants and regulators now… time for magic acts…
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