http://www.indiadaily.com/editorial/20863.asp
Amount of money all the Governments in the world spent to tackle to global financial meltdown equals handing $3000 to every human being on the earth Fred Day Aug. 9, 2009
A staggering 12 trillion dollars have been spent by all the Governments in the world to bail out the world economies from the financial meltdown and devastating global depression. The result is little job growth but a lot of commodity inflation.
Every human being on the earth could have received a $3000 check. That is the extent of $12 trillion.
Most of the cash has been handed over by developed countries, for whom the bill has been $10.2 trillion, while developing countries have spent only $1.7 trillion - the majority of which is in central bank liquidity support for their stuttering financial sectors.
More interesting is that out of 12 trillion dollars, $10 trillion is borrowed money printed by the central banks of poor nations accumulating staggering interest rates.
What does all this mean?
It means within a year a much larger financial meltdown will happen with far more devastating global depression.
The whopping total cost of crisis is equivalent to around a fifth of the entire globe's annual economic output and includes capital injections pumped into banks in order to prevent them from collapse, the cost of soaking up so-called toxic assets, guarantees over debt and liquidity support from central banks.