The relative sizes of some current economic facts:
It has been said that the Occupy Wall Street demonstrations have cost cities $13 million dollars. That's a lot of money. (Of course, one can ask whether the massive police reactions to OWS were necessary and thus whether that 13 million was necessary, but, OK, let's accept the $13 million figure.)
It has been said that the Occupy Wall Street demonstrations have cost cities $13 million dollars. That's a lot of money. (Of course, one can ask whether the massive police reactions to OWS were necessary and thus whether that 13 million was necessary, but, OK, let's accept the $13 million figure.)
Let's picture that $13 million as filling the standard size bed of my Ford F150 pickup.
The direct losses from Wall Street's unregulated speculation in the toxic sub-prime CDOs were about $9 billion.
Based on my F150 scale, that $9 billion would fill about 6 ½ standard highway sized tractor-trailers (with a 53' trailer.)
And corporations in the US have about $2 trillion in savings, which is money not spent on jobs and production and business activities.
Based on my F150 scale, that $2 trillion would fill about 1,450 standard highway sized tractor-trailers .
Bumper to bumper, that's about 20 miles of 18 wheelers hauling that $2 trillion dollars out of our nation's economic activity.
Bumper to bumper, that's about 20 miles of 18 wheelers hauling that $2 trillion dollars out of our nation's economic activity.
It's always good to put these things in perspective.
ReplyDeleteIt all depends on the target audience of the propaganda. Gee, that F-150 looks damn good to me! Thanks!
Just one question, or complaint, or moan...
How can Republicans still repeat that mantra? They've all got their eyes closed, sitting on their rugs, repeating to themselves:
"Deregulation. Deregulation. Deregulation."
I'm sorry--the inconvenient regulations on developers and small business are in a totally different league from Wall Street.
Again, "sorry but" the Tea Party and Ron Paul and the other Libertarians really don't get it. If they liked the recent financial meltdown, they'll love Act II.