The Hollywood Liberal

The Price of Crisis Relief
Calculations based on data from the IMF show that per capita spending to resolve the current economic crisis has hit $10,000 per person in the U.S., and an even more staggering near-$50,000 per person in the U.K. The BBC: The world’s largest economies have spent $10,000 for every person in a bid to fix the financial meltdown of the past year. New calculations by the BBC, based on IMF data given to G20 finance ministers, shows these countries have spent a total of $10 trillion (£6tn). The UK and US spent the most, with the UK spending far more, 94% of its GDP compared to 25% in the US. That equates to £30,000 per person in the UK and $10,000 in the US. Of course, most of this bail-out money was in the form of guarantees to the banking system, and as that system pulls out of the crisis, governments stand to recover most but not all of that money. Read more READ THE WHOLE ITEM

Calculations based on data from the IMF show that per capita spending to resolve the current economic crisis has hit $10,000 per person in the U.S., and an even more staggering near-$50,000 per person in the U.K.

The BBC:

The world’s largest economies have spent $10,000 for every person in a bid to fix the financial meltdown of the past year.

New calculations by the BBC, based on IMF data given to G20 finance ministers, shows these countries have spent a total of $10 trillion (£6tn).

The UK and US spent the most, with the UK spending far more, 94% of its GDP compared to 25% in the US.

That equates to £30,000 per person in the UK and $10,000 in the US.

Of course, most of this bail-out money was in the form of guarantees to the banking system, and as that system pulls out of the crisis, governments stand to recover most but not all of that money.

Read more

READ THE WHOLE ITEM

Related Entries

• September 4, 2009 Steve Oney on John Buntin’s ‘L.A. Noir’
• September 3, 2009 Arson Sparked L.A. Inferno
• August 31, 2009 A Good Idea, Up in Flames
• August 26, 2009 Brown Is the New Green in Trendy Los Angeles
• July 14, 2009 L.A. Tagged as the City Meanest to the Homeless

This entry was posted on Saturday, September 12th, 2009 at 4:46 am and is filed under Main Blog (All Posts). You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.