Global equity market investors have lost $16.5 trillion in market capitalization over the last six months, in a worldwide stock-market selloff that has wiped out any gains of an “Obama recovery.” Global equity market “wealth” measured in market capitalization is now down 10 percent form its prior November 2007 world stock-market highs.

The prospect of recovery in global equity markets remains dim, given economic projections indicating the price of oil worldwide will remain at or below $30 a barrel for the remainder of 2016, suggesting global equity markets may be on the precipice of an historic sell-off that could end up with the “Crash of 2016.” Such a crash could dwarf the bank crisis that triggered a global economic recession at the end of President George W. Bush’s second term in office. READ MORE