Credit crisis could cost nearly $1 trillion, IMF predicts Posted: 2 years ago by deEPCHill
The International Monetary Fund said Tuesday that financial losses stemming from the U.S. mortgage crisis might approach $1 trillion, citing a "collective failure" to predict the breadth of the crisis.
Comments: 6 Score: [-] 106 [+].
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Posted: 2 years ago by dollyllama:
Yeah, I suspect $1 trillion is the underestimate.
Score: [-] 30 [+].
Posted: 2 years ago by dollyllama:
I really don't quite get how I click once and post twice. Maybe I have a tic that I don't know about.
Score: [-] 30 [+].
Posted: 2 years ago by deEPCHill:
It happens to me, too.
Score: [-] -58 [+].
Posted: 2 years ago by DerAlt:
It doesn't seem that long ago that the term 1 trillion was not in common useage in American economics.
One thousand billion! That's 12 zeros!
And this is only one issue. The US is 9.1 trillion in debt.
I guess tax cuts for the wealthy don't spur the economy very long.
Score: [-] 50 [+].
Posted: 2 years ago by pocksucket:
1 Trillion, as a number, makes no sense to the mind - needs a little perspective.
1 Million seconds:
Just under 12 days
1 Billion seconds:
31 years (give or take)
1 Trillion seconds:
31,709 years
Maybe that's too much perspective.
Score: [-] 62 [+].
Posted: 2 years ago by DerAlt:
« pocksucket : 1 Trillion, as a number, makes no sense to the mind - needs a little perspective.
1 Million seconds:
Just under 12 days
1 Billion seconds:
31 years (give or take)
1 Trillion seconds:
31,709 years
Maybe that's too much perspective. No, that's an excellent perspective. Scary.
A good read is Issac Asimov's "only A Trillion."
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