Prepare for the Destruction of $34 Trillion in the Coming Months

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What would be the impact on your business if $34 trillion in wealth assets were destroyed over the next several months? Answering this question will help you plan for the worst effects of what will be a monumental episode of wealth destruction. There is still time to act to protect the income generation capacity of your retiree clients.

With inflation hitting 9.1%, what is off the table are those actions that propelled asset prices upwards for 14 years. In a dramatic Fed policy reversal, quantitative easing is gone, as are zero-percent interest rates. The economist Richard Duncan declared, “Americans should prepare for a very hard landing?” How hard? Harder than we wish to imagine. Several years ago, while vacationing in Miami, my kids asked me to take them parasailing. The way I stomach felt “sailing” 400 feet above the water is an apt analogy.