A lot, that's what. And it's why we're in such dire economic straits.
According to one reliable account we read recently, the world economy has shed $40 trillion in wealth over the past year or so. That's $40,000,000,000,000!
With that kind of cash, you could buy up quite a few countries. You could feed the world for a couple years. You could build millions of houses. You could build fabulous new cities. You could convert the entire U.S. to solar power and still have well over $39 trillion left over.
Not only that, but in spending $40 trillion, you could generate a lot of jobs. A LOT OF JOBS.
And taxes. Just 10% of $40 trillion would be $4 trillion, which would help a lot of governments do a lot of things for a lot of people.
Our point is this: an $800 billion stimulus is just a drop in the bucket after $40 trillion has been vaporized. We're not going to be out of this mess anytime soon, and it could turn into a true Depression.
Sorry to be so glum.
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1 comment:
Well, technically, you could have a crap load of money (or 40 trillion, if you will); you can't feed the world with bills and coins. That's gonna be the big problem from now on - we'll have to realize food actually has to be grown and bred in order for us to eat it...
Money isn't anything real, it's just the value we put on things. We transfer it from one place to another. The water, the food, the oil - it all remains the same.
I get your point though, $40 trillion is a lot of money - which ever way you look at it.
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