yeah ok, but not by changing a few numbers on some computer screens - which is the thrust of the article
real wealth is lost when people sit on their backsides or break stuff sure, and there has been a bit of that, but 40% is just lies
The number comes from things like Z.1 flow of funds accounts, and mostly reflects stock market declines and real estate declines. Which is just rising rates plus lower inflation expectations. Which are a pay me later instead of pay me now thing, but not a real wealth reduction.