Have been following the US or rather now the global financial crisis closely. To lubricate the financial machinery US central bank and later others seem to have decided to provided the much needed oil, money. Am just wondering how much they think they can pump in and the medium long time effects. USA has the GDP of about a $14 trillion.
A US government decided to put its 'billions of dollars' as per the estimate of its Treasury Secretary on stake to take the risky illiquid assets off the balance sheets of Financial institutions.
The total cost of all the measures in last few weeks is expected to be dollar one trillion.
With a GDP of about $ 14 trillion with deficit of $500 bn which because of these and other measures would increase $650 billion in 2009. The bloomberg article with all the numbers.
I just hope they have a better plan to manage this than buying better and faster printing machines to print more dollars.
Here is funny stuff from the web
Businessweek article on how things would look on the first anniversary of the event with a real innovative idea on what to do about the unsold home inventory, pay people to destroy it for the next shooting Armageddon sequel :)
This shoe site for example has a page on US economy because 'someone has to educate the people in this corporate takeover of media' :)
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PS : Over with the book. Hannibal Lector is a real gentleman
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