Charles Evans: Trillions Net Worth

Posted by admin on Sunday, September 19, 2021

Charles L. Evans Money Quote saying American citizens lost over eleven trillion dollars in net worth during the great recession of 2008. Charles L. Evans said:
 
“From the peak in 2007 to the trough in 2009, Americans lost $11 trillion of net worth for households and businesses” — Charles L. Evans

 

 

In this quote, Charles L. Evans seems to be highlighting the massive loss of household and business wealth in the United States during the Great Recession. Specifically:

• Evans notes that from the peak of the real estate bubble and stock market in 2007 to the nadir in 2009, Americans collectively lost $11 trillion in total net worth.
• He appears to be providing this figure to emphasize the scale of the deleveraging and drop in asset prices that occurred across households and corporations as the financial crisis unfolded.
• Evans seems to want to underscore just how substantial the hit was to the aggregate balance sheets of individuals and businesses in the U.S. over this period encompassing the recession’s onset and immediate aftermath.

The best interpretation is that Evans is conveying the immense economic damage inflicted during the crisis years through the lens of the staggering $11 trillion reduction in Americans’ combined net worth that took place between 2007-2009 according to his perspective on quantifying the recession’s impact through this metric of total household and commercial wealth erosion.