Since last September, when all the government money went out the door, stock investors around the world have lost $14.3 trillion. For all the talk, if stock markets were rising now, people would not see the need to spend government money and guarantee bad loans. So one way to look at the government money at risk is this: Is it contributing to a rise in the stock market? So far, the answer is "no."
But that has not stopped government from potentially spending or putting at risk $9.7 trillion. Where did that money go?