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Alan Quasha: US is over-leveraged

July 2, 2009

Alan Quasha, CEO of Quadrant Asset Management, says that the United States is grossly over leveraged. The US has around $54 trillion of debt – this is over 3.5 times the size of our entire economy. Before  2008, Americans’ net worth was calculated at about $56 trillion, but this has dropped by $20 trillion in the half-year opening 2009. This is the largest decrease in wealth over the shortest time that the markets have ever witnessed.

In order to exit this crisis and be able to try and regain our losses we will need to make some drastic changes, says Quasha.

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