To bail out or not to bail out...that is the question.

[Arne]

Great post over at lewrockwell.com:

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.
Jim Bianco of Bianco Research crunched the inflation adjusted numbers. 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

[GermanDunk]

Uhm, this is interesting.

Originally Posted by Arne

• 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

Are this costs

@Iraq : only invasion or total
@Viet: only 700 bn. ?
@NASA: annual costs ? What costs ?

[Arne]

Originally Posted by GermanDunk

Uhm, this is interesting.



Are this costs

@Iraq : only invasion or total
@Viet: only 700 bn. ?
@NASA: annual costs ? What costs ?

Total paid yet, I think. To put it into perspective Germany pays something like $130 bn. for education a year. 700 bn is ALL OF GERMANY working something like 2 to 3 months just for destroying wealth.

Update: They used official inflation data to adjust this data, so all of the inacurracy can be followed back to the US government that is constantly lying about inflation. Measuring inflation like it was meassured back in the 70's we would have had 10% inflation for the last couple of years.

[GermanDunk]

Originally Posted by Arne

Total paid yet, I think.

Hm, inflation adjusted means calculated on todays excange rate ?

[Arne]

Originally Posted by GermanDunk

Hm, inflation adjusted means calculated on todays excange rate ?

It means that they try to say that it would need $700bn. today in order to buy all the stuff that could be bought for $110bn. during the Vietnam war.

It means they take into account that our money is constantly being depeciated (no matter what offcial currency you use), since central banks are printing money like crazy everyday...

P.S.: I'll answer your PM another they, I need to go to bed now, sorry! :-)

[DirkFTW]

Originally Posted by Arne

Update: They used official inflation data to adjust this data, so all of the inacurracy can be followed back to the US government that is constantly lying about inflation. Measuring inflation like it was meassured back in the 70's we would have had 10% inflation for the last couple of years.

Hmm, so the comparison is not as bad as it looks only because our currency is a lot worse than it looks?

hooray for small victories