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Credit crisis could cost nearly $1 trillion, IMF predicts
Credit crisis could cost nearly $1 trillion, IMF predicts
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. picked by deEPCHill 2 years ago
tags international monetary fund credit crisis $1 trillion cost financial
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34
 dollylla...
2 years ago
Yeah, I suspect $1 trillion is the underestimate.
quote #2
34
 dollylla...
2 years ago
I really don't quite get how I click once and post twice. Maybe I have a tic that I don't know about.
quote #3
16
 deEPCHil...
2 years ago
It happens to me, too.
quote #4
6
 DerAlt
2 years ago
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.
quote #5
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36
 pocksuck...
2 years ago
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.
quote #6
7
 DerAlt
2 years ago
« 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."
quote #7
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