Economy
Related: About this forumNew Report Finds Financial Crisis Cost Economy $12.8 Trillion
http://thinkprogress.org/economy/2012/09/13/846281/financial-crisis-lost-trillions/
The U.S. is still struggling to claw out of the hole created by the Great Recession, the Wall Street-caused crisis that resulted in the loss of millions of jobs. According to a new report from Better Markets, a pro-financial reform organization, the crisis cost Americans about $12.8 trillion in lost economic output:
Estimated actual gross domestic product (GDP) loss from 2008 to 2018, of $7.6 trillion. This is the cumulative difference between potential GDP what GDP would have been but for the financial and economic crises and actual and forecast GDP during the period.
Estimated avoided GDP loss from 2008 to 2012 of $5.2 trillion. This figure is the estimated additional amount of GDP loss that was prevented only by extraordinary fiscal and monetary policy actions. It is derived from the model-based estimate of Alan Blinder and Mark Zandi of $6.9 trillion, less $1.7 trillion in adjustments. (Because the Blinder/Zandi simulation ends in 2012, it does not include any avoided losses for the 2013-2018 period. For example, the effects of any ongoing or additional crisis-related monetary policysuch as Federal Reserve purchases of agency mortgage-backed securitieswill continue past 2012.)
limpyhobbler
(8,244 posts)And of what continues to happen.
xchrom
(108,903 posts)Not so much.
99th_Monkey
(19,326 posts)You know, that little detail that Rumsfeld let slip ONE DAY before the 9/11/01
attacks, and that was being "investigated" in the very same Pentagon offices that
were decimated in the 9/11 attacks.
left on green only
(1,484 posts)He didn't look to me like his sorry ass was any the worse for the wear. That is to say that I could tell that he sure as hell didn't buy his suit at Wal-Mart, nor did it look like his wrist watch was a Timex. And of course I hurled all over the coffee table as I watched our right wing congress people fawn all of him with questions like, "What can we do to make it easier for you to gouge our economy?"
I cannot help but to think ill of them all.
eridani
(51,907 posts)And if I told you what I really think of him, it would probably be a TOS violation.