Barry Ritholtz sez,
In doing the research for the "Bailout Nation" book, I needed a way to put the dollar amounts into proper historical perspective.
If we add in the Citi bailout, the total cost now exceeds $4.6165 trillion dollars.
People have a hard time conceptualizing very large numbers, so let’s give this some context. The current Credit Crisis bailout is now the largest outlay In American history.
Crunching the inflation adjusted numbers, we find the bailout has cost more than all of these big budget government expenditures – combined:
• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion
TOTAL: $3.92 trillion
You may have noticed of late that things in America are becoming less, well, American. A cruel misogynist with dangerously racist beliefs is running the show. Nazis and bigots of all stripes no long fear giving voice to their hatred in public. The nation’s journalists and the free flow of information are under attack. The […]
The University of Texas's Ransom Center (previously) has posted a gorgeous selection of digitized movie posters from its Movie Poster Collection, from the 1920s to the 1970s.
I enjoyed reading David Joiner’s (aka Talin) retrospective about game development in the early days of the Commodore Amiga: like many creators of the era, he not only had to cultivate his artwork, but also needed to devise incredible technical hacks just to get his ideas working on the frustratingly limited (yet wildly malleable) hardware. […]
Surfing on public Wi-Fi is convenient, but it’s far from safe. Whether you’re at a cafe or hotel, connecting to an unsecured network exposes you—and your personal information—to a host of hazards, including hackers, government spies, and trackers. Private Internet Access helps you navigate past these risks and tap into a safer, restriction-free internet, and […]
The web is vast, and while there’s room for everyone, competition is stiff when it comes to landing on that first page of a Google search. That’s why developers aren’t afraid to spend exorbitant amounts of time and money on search engine optimization (SEO) to ensure their sites rank higher than others. However, not all […]
Many of us enjoy the aesthetic of vintage electronics, but trying to use most hardware from the 1950’s isn’t necessarily practical. This is especially true where speakers are concerned. While most of us can appreciate the old-school feel of retro speakers, they have a hard time matching the convenience and power delivered by today’s Bluetooth speakers. […]