by Don Franks
Roughly US$2 trillion got wiped off global stocks after Britain’s shock vote to leave the European Union.
(Two trillion is two thousand billion. One billion is one thousand million.)
Doug Cote, chief market strategist at Voya Investment Management in New York, said that dynamic was a positive one for markets.
“If you have cash on the sidelines it could be a buying opportunity”.
By the way, according to the United Nations, it would take $US30 billion a year to eradicate world hunger. In other words about 1/70th of what was wiped off global stocks.
And there’s some folks still think capitalism is the best system we can devise.