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First, Chas, you need to get out a bit more and get a little pussy:…

Posted by sgt_doom on January 25, 2013 at 11:29 AM · Report this
A nice little zombie apocalypse will fix that bullshit right up. $700 trillion? Zombie don't care.
Posted by el ganador on January 25, 2013 at 11:52 AM · Report this
Dougsf 4
Something tells me those numbers are based on very different metrics. We all know what the building of the world's tallest building foreshadows.
Posted by Dougsf on January 25, 2013 at 12:39 PM · Report this
Fnarf 5
GE will save us. That giant sucking sound is Chinese jobs being stolen from them and returned to the US. Yeah, really.…
Posted by Fnarf on January 25, 2013 at 1:04 PM · Report this
The market value of those derivatives is much much less.

You might as well value the insurance industry buy adding up the face value of every policy in existence.
Posted by giffy on January 25, 2013 at 1:10 PM · Report this
"Gross market value of all outstanding derivatives was $14.5 trillion at the end of 2007, less than one-fortieth of the $596 trillion estimate. (That number shrinks to about $3.3 trillion once you take into account contracts that directly offset one another.)"…
Posted by giffy on January 25, 2013 at 1:32 PM · Report this
Very good, giffy.

And GDP's are not comparable to market values. A GDP is an annual flow, not a value. At normal income/asset relationships it takes several thousand trillion $ of assets to produce $70 trillion in GDP.

Except that Gross (Global) Product is gross, and you'd have to knock it down to Net Productfirst in order to strike the proper income/asset comparison.
Posted by RonK, Seattle on January 25, 2013 at 1:59 PM · Report this
@5 Did you read that article? It says that manufacturing job growth is now possible in the U.S. largely because unions have been crushed and salaries have been pushed way down. How is this a good development?
Posted by Tent_Liberation_Army on January 25, 2013 at 5:21 PM · Report this
Soultion: Etch A Sketch!
Posted by silvertears on January 25, 2013 at 10:08 PM · Report this

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