2012 Financial End Game
Whilst at that time the subprime collapse seemed catastrophic, the reduction in the subprime market was in essence relatively limited and was a localized event. The effects of the event though did not in fact remain limited and localized.
There has since been an expected cumulative loss of $4,700 billion in world output associated with the crisis. The loss in world output represents a figure that is close to twenty times greater than the loss experienced in the collapsed subprime market.
Though this loss is considerable, the impact on the decrease in stock market capitalization from July 2007 until November 2008 alone was calculated to have been $26,400 billion which was one hundred times greater than the loss on the subprime market in the United States where the crisis actually began.
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