The World In Depression: Living With Crisis (Many articles from many countries have been placed below) "In a paper for the Dallas Federal Reserve, economists David Luttrell, Tyler Atkinson and Harvey Rosenblum calculate that the total cost to the U.S. of the financial crisis was something in the order of $6-trillion (U.S.) to $14-trillion. The top end of this range represents one full year of U.S. economic output. If they were to add in what they call “broader” measures that reflect the lingering trauma of the recession, they figure that the actual cost could be twice as high...From the loss of wealth (in housing and the financial markets), to the loss of wages (those lost through the crisis, as well as the loss of earnings potential because of employment disruptions), to the opportunity cost of government money spent on bailouts that did not get used someplace more productive, there were gigantic costs associated with the recession"
Posted on: Sun, 22 Sep 2013 10:21:14 +0000
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