Great Depression II
By Chief Pistol Packin' Mama on January 11, 2010 in Indicators of need for prepsI don’t like to get much into world events here, but the current economic crisis in the United States is properly a world event, and should be viewed in that context. With this in mind, I read today a BBC News story regarding this week’s G-20 summit in London at which the group of twenty finance ministers and central bank governors agreed to a $1.1 trillion bailout of various world economies, along with further restrictions on the financial industry and large companies.
In addition, the story noted that member countries are already committing at least another $5 trillion to “bailing out” and giving “stimulus” to their respective economies. At least $1 trillion of that is here in the U.S., and probably much more by the time you read this.
