September 23, 2008

Paulson Plan

Want to get a sense of exactly how expensive the Paulson Plan is?

    1 million seconds is 11 days

    1 billion seconds is 32 years

    1 trillion seconds is 3 centuries

If we take on as much debt as Paulson wants (well over a trillion dollars) and we pay it back at the rate of a dollar per second, it would take 3 centuries to repay. And that assumes its "only" a trillion dollars . . . it could be much, much more.

Watch the greenback go down the rathole.

on bad assets:

on bad assets:

it's not what you can sell these items for that matters, it's what you think they are worth. The fact that you think they are worth more than anyone will buy them for is what makes them bad assets.

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