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Getbig Main Boards => Politics and Political Issues Board => Topic started by: 240 is Back on January 01, 2009, 11:48:13 PM
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US ECONOMY LOST $6.9 TRILLION IN 2008
$8.4 TRILLION IN BAILOUTS PROMISED
2008 is over, and we have survived it. Though for some of us, just barely.
2008 saw the greatest financial losses in generations, as $6.9 trillion poured from investors' coffers in the worst series of cascading disasters since the Great Depression.
The resulting panic was met with equally drastic action by the US Treasury and Federal Reserve bank. As pillars of the US economy toppled, the Fed government created an additional $8.5 trillion in currency liquidity and began handing out massive, low interest loans in hopes of stopping a chain reaction of failures.
This massive economic bloodletting threatens to rival the United States' GDP: a now-seemingly hapless $14 trillion.
James Bianco, president of Chicago-based Bianco Research Inc., told the Toronto Globe and Mail: "No one understands these numbers, and I include the Treasury Secretary [Henry Paulson] and the chairman of the Federal Reserve [Ben Bernanke]."
Increasingly, in 2008 the US is being said to have suffered a "financial 9/11."
Many blame the Republican party, namely the Bush administration, for letting it go this far.
The crisis, which grew dramatically in scope with the toppling en masse of shaky mortgages, resulted in credit markets freezing and widespread layoffs. From Dec. 2007 to Nov. 2008, 2.7 million Americans lost their jobs, raising the total number of unemployed to 10.3 million (6.7 percent), according to the US Department of Labor's November report on unemployment.
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Hehe, you guys (American's) are fucked... you voted Bush senior into office in the 80's...he fucked up enough, then Clinton tried to fix some of his fuckups, what do you guys do? swear in 'W' to continue the bush legacy and fuck your countrry into oblivion.... but hey, don't fret... you guys can pull of the trifecta with Jeb, W's brother, he just might make 2012 !!! ;)
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america the superpower of al capone is done.
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http://www.brillig.com/debt_clock/
The clock is ticking...
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This one is better
http://www.babylontoday.com/national_debt_clock.htm
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http://www.brillig.com/debt_clock/
The clock is ticking...
I see you are jealous of the freedoms 8)
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Chump Change
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Not a big deal.
The printing machines will print all the money the Government needs. :)
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Treasury invests $15B more in banks.
Another round of capital investments under the $700 billion bailout brings the total amount dispersed to $187.5 billion. Citigroup also gets its emergency $20B.
http://money.cnn.com/2009/01/05/news/economy/treasury_capital_investments/index.htm?postversion=2009010518
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Hehe, you guys (American's) are fucked... you voted Bush senior into office in the 80's...he fucked up enough, then Clinton tried to fix some of his fuckups, what do you guys do? swear in 'W' to continue the bush legacy and fuck your countrry into oblivion.... but hey, don't fret... you guys can pull of the trifecta with Jeb, W's brother, he just might make 2012 !!! ;)
You're a real moron if you don't see that America has not only fucked itself but pretty much the whole world as well. If we fail all of you fail for the time being. If you cut our head off the body (rest of the world) will die for a period of time. THis isn't the 1900s. The world is much too interconnected for America to fail and not effect the entire planet.