Chimerica Today

Comments

1
Your tinfoil will save you Chuckles.
2
First, Chas, you need to get out a bit more and get a little pussy:

http://www.nakedcapitalism.com/wp-conten…

3
A nice little zombie apocalypse will fix that bullshit right up. $700 trillion? Zombie don't care.
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.
5
GE will save us. That giant sucking sound is Chinese jobs being stolen from them and returned to the US. Yeah, really.

http://www.theatlantic.com/magazine/arch…
6
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.
7
"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.)"

http://www.slate.com/articles/news_and_p…
8
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.
9
@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?
10
Soultion: Etch A Sketch!