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IMF: Current Financial crisis costs will near $1 trillion

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posted on Apr, 8 2008 @ 05:32 PM
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IMF: Current Financial crisis costs will near $1 trillion


www.telegraph.co.uk

The costs of the financial crisis are set to rocket to nearly $1 trillion - higher than the Japanese banking collapse which caused a decade of stagnation, the International Monetary Fund has warned.
(visit the link for the full news article)




posted on Apr, 8 2008 @ 05:32 PM
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So we are looking at over a decade of coming stagnation. Along with Bird Flu, Energy Prices , a Global Food Crisis and Overpopulation this is shaping up to be great century.


Its reminds me of a book I own called The Long Emergency, except this is happening in real time and not in pages of a book.



www.telegraph.co.uk
(visit the link for the full news article)



posted on Apr, 8 2008 @ 06:46 PM
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1 Trillion is on the low end in my opinion. US housing devaluations will probably hit half that by itself. I'd have to go back and add some numbers but seems like banks are half way there already in mortgage related write downs. Throw in the costs related to what these financial products have done to various credit markets and there is a case that there has been a trillion in damage already. I've seen ranges from 2-10 Trillion in total cost.



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