Comment by cogogo

A quick and dirty google shows that global financial institutions wrote down 1-2 trillion in mortgage related securities, a ~6trn drop in the us real estate mkt and another 6trn destroyed in the equities mkt. Not sure I really trust these numbers but they are the right order of magnitude. I have a very hard time believing the AI bubble is as big as the subprime bubble. But it very well could help trigger a massive correction and recession on a similar scale because everything else that has been propped up by low rates will likely correct with it.