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| Economy |
| Financial Rescue Nears GDP as Pledges Top $12.8 Trillion |
| 2009-04-01 |
| Via Instapundit Unfortunately, this is not an April Fools Joke The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s. New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nationÂ’s gross domestic product was $14.2 trillion in 2008. Details at link |
| Posted by:ed |
| #7 CHINESE MILITARY FORUM > ECONOMIC MELTDOWN: THE "DOLLAR GLUT" IS WHAT THE US USES TO FINANCE ITS GLOBAL MILITARY BUILDUP [Author read, OWG-NWO = US Imperialism]. CMF POSTER > USA HAS NOTHING LEFT TO SPEND, + CHINA IS NO WILLING TO KEEP BUYING US T-BILLS. IOW, NO $$$ = NO HONEY for the Amerikan Global USDOD??? |
| Posted by: JosephMendiola 2009-04-01 23:05 |
| #6 How do Americans fell about working the entire year for someone else's benefit and not theirs? Sounds a bit socialistic to me... |
| Posted by: Bright Pebbles the flatulent 2009-04-01 20:18 |
| #5 Whenever I hear someone talk about how its all over and how well the feds did the keep it from getting worse I think about the Greensburg KS Big Well. Sure, you made a great hole down to the water table, but now how ya gonna get out? |
| Posted by: swksvolFF 2009-04-01 16:47 |
| #4 newc #3 post. "Thats 23 Trillion dollars. Thats a little more than 20% of GDP" GDP of the USA is approx 14.58 trillion dollars. 23 Trillion dollars is a bit less than 1.6 times the GDP of the USA, not 20%. Or did I somehow miss what you were saying ? |
| Posted by: Canuckistan sniper 2009-04-01 16:37 |
| #3 Soooo, this is the 12 tril for the banks PLUS Obamas scam stimulus plan and spending package which is an ADDITIONAL 11 trillion. Thats 23 Trillion dollars. Thats a little more than 20% of GDP. Our credit rating just got reduced. |
| Posted by: newc 2009-04-01 13:46 |
| #2 The 'toxic' asset programs are pure rip-off. They've been wanting to create a SIV to absorb them, no one is buying in. It looks like AIG is going to be the sacred cow that buys the toxic assets and gets slaughtered in the end. They have no hope of paying back what they've borrowed, might as well make their failure useful. |
| Posted by: flash91 2009-04-01 11:14 |
| #1 And it's just the beginning. |
| Posted by: g(r)omgoru 2009-04-01 07:21 |