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St. Louis Adjusted Monetary Base, Monthly, Billions of Dollars, Not Seasonally Adjusted
Does $65.5 trillion terrify anyone yet?
But "the worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American's standard of living is undergoing a "permanent change" - and not for the better as a result of: * An $8 trillion negative wealth effect from declining home values. * A $10 trillion negative wealth effect from weakened capital markets. * A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies." "The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone."
the worldwide slowdown in that industry, which, in turn, has caused chemical production facilities around the world to close. Going forward, a number of factors will influence the availability of life-saving medicines and other critical commodities.