Jan 30 2009

Wall Street Bailout Costs More than US History.

(10 am. – promoted by ek hornbeck)

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Casey Research, of Vermont, has analyzed the costs of the government bailouts of the housing crisis, the credit crisis and others and has concluded that the total is $8.5 trillion, which is more than the cost of all US wars, the Louisiana Purchase, the New Deal, the Marshall Plan and the NASA Space Program combined. According to CRS, the Congressional Research Service, all major US wars (including such events as the American Revolution, the War of 1812, the Civil War, the Spanish American War, World War I, World War II, Korea, Vietnam, Iraq and Afghanistan, the invasion of Panama, the Kosovo War and numerous other small conflicts), cost a total of $7.5 trillion in inflation-adjusted 2008 dollars.

http://www.rockcreekfreepress….

hat tip to Ilargi.

http://theautomaticearth.blogs…

4 comments

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  2. 3M6B

    The developing countries are in fact developed.  Their people work for less like we did thirty years ago.  300 million of us vs 6 billion of them.  You are CEO of the world.  Whose profit margin are you going to invest in.

    • Valtin on January 31, 2009 at 07:19
    • #

    It may be. So often we look back and say, oh, this started here.

    It will take awhile for the total moral (and economic) bankruptcy of the system to sink into the public consciousness. But I have data from the type of work I do that it is. Obama and his administration will face a very different public than Bush had. They are scared and they are mad. The last time that happened in world history, mixed with the economic bankruptcy of the society, was… the French Revolution.

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