Quote:
Originally Posted by onwebcam
They just want you looking at the small things so you not looking at this
Financial Rescue Nears GDP as Pledges Top $12.8 Trillion
http://www.bloomberg.com/apps/news?p...efer=worldwide
Nearly the GDP of the entire US for a year they've spent in 6 months. As much or near enough to pay of EVERY mortgage in the entire US. |
not exactly. the feds have spent only 4 trillion of nearly 13 trillion in guarantees. The 13 trillion may or may not eventually be spent.
either way, the next 4 years will be the grande test of keynsian philosophy AKA can a government spend a country into recovery? Since the bailout is repaying the losses of wealthy bankers, instead of helping the people who got laid off because of the bankers behavior, my prediction is trillions have been spent with no benefit to the economy at all. Snake Doctor would probably agree that trickle down economics is a fraud, & it is. The bailout money is not going to reach consumers, so you can forget any recovery based off either the bailouts or the stimulus.