Stop worrying about the value of your house, or your 401(k), or the economy. Instead, worry about one of the long-term consequences of the drying up of the usual sources of funds for private equity entrepreneurs.

Long after the last undercapitalized mortgage broker has departed the scene, and long after the teenage model builders have left their hedge funds for other employment, one serious consequence of the current repricing of risk will remain — the investments of the sovereign wealth funds (SWFs) that will fill any financing gap faced by private equity operators.