[dolanbaker]

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')http://www.financialexpress.com/news/global-wealth-falls-a-first-since-2007/1018143/0
Paris: The combined wealth of all individuals has fallen this year for the first time since the financial crisis of 2007-08, with a drop in austerity-hit Europe outweighing a small increase in China, a Credit Suisse report has found. The study found the wealth of all individuals - defined as assets such as income, real estate, savings and investments less debt - fell 5 percent in dollar terms to $223 trillion by mid-2012 from the same time the year before.
The main driver of the decline was crisis-hit Europe, where wealth fell 14 percent in dollar terms. But the study also attributed the fall to economic recessions in a broader range of countries, lower equity prices and relatively subdued housing markets.