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