Market meltdown: Where did all the money go?

On the age-old question, where did the money go... Here is one idea:

Market meltdown: Where did all the money go?: "Charles Biderman, chief executive of TrimTabs Investment Research in Sausalito, has a different explanation.

He says that from the market's bottom in 2003 until its peak in 2007, the market value of all publicly traded stocks worldwide grew from about $20 trillion to $45 trillion.

During this period, only about $1.5 trillion in cash went into the market. Debt accounted for some of the remaining increase in market capitalization, but most of it existed only on paper."