World Wealth and Solution to Financial Crisis

According to a recent report by Credit Suisse, (2011 Global Wealth Report) total wealth for the entire world reached US$ 231 trillion and is anticipated to grow even more. By 2016, the entire global wealth will reach US$ 345. The global GDP is about US$ 65 trillion. Global Wealth is nearly 4x the size of the entire global economy.

The definition use for wealth is financial assets plus real assets (mainly housing owned by individuals minus debts. (p. 8 2011 Credit Suisse-Global Wealth Report)

As there is so much wealth in the world. perhaps that could be a solution to the debt crisis and stimulating the markets. If we took 10-15% of all the wealth and used that to pay off the troublesome sovereign debt, mortgage crisis debt, college tuition debt, etc with certain conditions attached.

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