Former Chairman of the White House Council of Economic...

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    Former Chairman of the White House Council of Economic Advisors...

    "Prof Feldstein said the next bear market - most likely triggered by a spike in 10-year Treasury yields - risks setting off a $US10 trillion ($14 trillion) crash in US household assets.
    The cascading "wealth effects" will drain the retail economy of $US300 billion to $US400 billion a year, causing recessionary forces to metastasize."

    Source: AFR article cited in original thread post
 
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