Forget Points-1.1 Trillion Lost TodaySeptember 29, 2008
That’s right, $1.1 trillion dollars just went buhbye. The GDP of the US is anywhere from 13.84 trillion (CIA World Factbook, 2007 est.) to $14.29 trillion (BEA, Quarter 2, 2008). $1.1 trillion represents 7.9 percent to 7.6 percent of that. Just to give you a better idea of what just happened. The biggest point loss in Wall Street history, but more importantly, the most amount of money lost.
Don’t think for one minute that this only affects Wall Street, it will hurt Main Street, it will cause businesses you wouldn’t think could be hurt by this to falter, it will drill into your wallet.