Monday, April 27, 2009

$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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