The year 2022 will be a turning point. Global financial assets are set to fall the most since the 2008 financial crisis.

This is reported by the company Allianz, according to which households should lose a tenth of their financial assets this year.

2021 appears to have been the last year of the old “new normal” of massive monetary policy driven stock rallies. Households especially benefited from this, when last year, for the third year in a row, global financial assets rose by double digits (by 10.4%) and reached 233 billion euros. The main driver of growth was the stock market boom, which accounted for about two-thirds of the growth in wealth last year. Slovaks improved financially thanks to investments in shares and investment funds, but our debts also increased significantly. These conclusions were also brought by the 13th Allianz Global Wealth Report 2022, which examines the financial assets and debts of households in almost 60 countries of the world.

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Breaking point

The year 2022 marks a turning point. The war in Ukraine literally suffocated the recovery from the Covid-19 pandemic and turned the world upside down. Inflation is rampant, energy and food are limited, and monetary tightening is weighing on economies and markets. Household wealth will feel it. Global financial assets are set to fall by more than 2% in 2022, according to Allianz, the first significant loss of financial wealth since the 2008 financial crisis. In real terms, households will lose a tenth of their wealth.

Igor Matovič produces one conflict after another in the coalition.

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