Do you know how much the bailout is costing US you and I? Not to mention the international prospectors around the world who are being hit by the global economy crisis? I would consider myself very informed to financial news. For many years now I have been earning a livelihood as a writer on international living matters. It’s nothing new to me that the USD is falling. But I just did some calculations today that I just couldn’t believe!
A shocking Economic Report
The following, and startling, facts are all based on a new report out from the National Bureau of Economic Research:
Simply put, the 2008 Economy bailout has cost the United States so far $8.5 trillion. Of course, this isn’t exactly news to many people. These figures exceed beyond most people’s understanding… which is how the US government got away with this whole sham in the first place. To truly comprehend these figures, though, this article seeks to put them in context by comparing them side by side to other major wars and government proclimations since the American Revolution. This is where my jaw really dropped.
If we add it all up in today’s dollars, the total cumulative cost of all of the following major US government capital outlays since the American Revolution, they come to $8.1 trillion. Yes, the end cost for the list below is less than the total cost of this year’s bank bailout.
Here are the wars and initiatives we are talking about, shown in order of price the most expensive on top and the least expensive on bottom:
- The Second World War
- The complete budget of NASA
- The Vietnam War
- The Iraq War
- The New Deal
- The Korean War
- The First World War
- The Savings and Loan Crisis
- Afghanistan/GWT
- The Marshall Plan
- The Gulf War
- The US Civil War
- The American Revolution
- The War of 1812
- The Louisiana Purchase
Yes that’s correct, you add up together the total price of all those things on the above list and the total is still less than the money the US has just spent on this year’s bailout! Read this report for yourself to get more info on the real financial crisis.
Protecting your Wealth Offshore: What to do
How does that make you feel? Shocking I know! I knew that economic conditions were rough, but doesn’t that just put it all in context in a more coherent, if disturbing way? (In addition to this, it was also informative to see the price of the Iraq war in comparison to other conflicts - way above the Gulf War but still less than the cost of Vietnam).
There are dire events ahead, but if you seek out a reliable guide, there are great opportunities to profit from the crisis and you can protect your assets more than ever before!