Did you know that (even in inflation adjusted dollars) the committed BAILOUT COST of THE LAST 12 MONTHS, EXCEEDS the TOTAL OUTLAY of HISTORIC EXPENDITURES of the LAST 200 YEARS COMBINED?
This includes World War I and II, the Korean, Vietnam and Iraq Wars, the total budget of NASA and the New Deal COMBINED.
The graphic below shows some of the bailouts, guarantees and programs put in place over the past year stacked against certain historic expenditures over the last two centuries.
However, if total notional derivatives (USD) were represented as a third stack in this graphic, it would be ONE THOUSAND TIMES TALLER than the 12 month stack of stimulus programs. Now there’s a graphic I’d like to see in the next printing of Bailout Nation.
(credit to Barry Rithotz and Jess Bachman)
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My comment is not for this particular post. It’s the way I view not only this post but your entire site. KEEP UP THE GREAT WORK!!! Our tax dollars has already made these white collar criminals too wealthy already!
But why should they think any different? We’ve bailed out these people several times over the past century. They knew the taxpayers money would come to the rescue when they entered their ‘den of theives’.