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[Clansgian AT wmconnect.com]

> >whoever wrote the above is dead on...except I am not sure that the
> wealth is lost...maybe transferred.

Nope, lost.   More accurately, never existed.

Most of the "lost" wealth was in the form of expectation, not reality.  
Someone bought a house for $200K expecting that when they retire in a decade 
or so, 
it would be worth $1M.  Now it is in foreclosure and will be received for 
$120K or less.

What happened to the 'wealth' they thought they were sitting on top of.  Did 
it disppear?  Was it transfered?   No, it never existed.

People often say that something is worth what someone is willing to pay for 
it.  Likewise, wealth is valued at what you can buy for it when the time 
comes. 
 The "investor" imagined they had $800K profit they were going to be 
spending, but when they actually try to take that cruise, buy the RV, etc. it 
turns 
out that the "wealth" couldn't buy any of those things.   </HTML>