Category: Currency Currents
- Published: 12 June 2009
- Written by Editor
The $18,100,000,000 question!
The numbers are staggering…really incomprehensible…it’s the kind of stuff that if you made it up no one would believe you…I’m talking about the amount of money both the US and European Union have committed to this crisis:
• The US government and Fed spent or lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year.
• European governments have approved $5.3 trillion of aid, more than the annual gross domestic product of Germany ($3.3 trillion).