Is the Stock Market Crashing?
The bailout has failed to be passed and the stock market has dropped 600 points.
What you could do with $700,000,000,000
- Give every person in the US $2,300 or give every household $6,200.
- Pay the income taxes of every American who makes $500,000 or less a year.
- Fully fund the Defense, Treasury, Education, State Veterans Affairs and Interior departments next year, as well as NASA.
- Buy gasoline for every car in the US for 16 months.
- Buy every NFL, NBA, and MLB team and build each one a new stadium – and pay your players $191 million a piece for a year
- Create the 17th largest economy in the world – roughly equal to that of the Netherlands.
- Or you could pay off just 7% of the $9.8 trillion national debt.
OR you could nationalize some mortgage related debt (aka “impaired assets”) that banks, credit unions, and pension funds hold. Using our tax dollars, of course. (via What I Learned)
A lot of people are upset over this whole thing. Some people are even protesting in front of Wall Street: