$10.5 Trillion Of U.S. Economy Backstopped by U.S. Government

CNN picks up on a theme that Zero Hedge started several weeks back in analyzing the guarantees that the U.S. government has established to make sure the economy does not collapse. The net result according to Turner's organization: $10.5 Trillion out of the entire $14 Trillion U.S. economy (this number is likely smaller now) is backstopped by the United States itself. Assuming the trading wheels come off and assets are priced without governmental guarantees, it could get ugly. 70% lower ugly.

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Comments

[ng2amarinefunk (not verified)]

Oh, well thats not so bad, we've done World Wars with a lot more, THEN during the wars the only important 'financial thing' was that the actual physical manufactured 'war surplus' be all destroyed, left with the defeated enemy, to insure a 'glut' of jeeps and trucks on his side, dumped in the ocean off the decks of ships, used in Atomic Tests as 1946 Able Blast, It is only the economic strangle-spread that is a worry, 'surplus goods' war is good, peace can be bad 'excess capacity' they call it

so a mere $10 trillion, we just need 'clunker buy back' but bigger scale, bulldoze all those $100k 'shacks' and build NEW houses, first destroy ALL the excess over 10 year 'junk cardboard (pressboard, sorry) houses...easy fix, been there, done that  Germany and Japan all fixed in a quick 10 years, can do, been done..post war 1955 all fixed

Just PLEASE, no 'surplus' it is out of 'engineered' optimalized scarcity that 'profits' come