If he looks confused, I am too. Does thing look better upside down? Is up better or is down better?
Numbers, statistics, graphs, charts – how to interpret them. Only consolation: it seems the periods of job loss is much shorter than that of net job gains. Unemployment rate may be 6.7% for the whole nation, but if you are unemployed, it is 100% for you.
When is more not better – too many models of cars. Would the dollar values of sales look any better than units sold?
A jumbo of numbers. Each line items would contain many, many detail items. Four major government entities Better look at a graphical representation.
The “big” picture view of what each agency is committing and has allocated so far. Obama’s Public Works (Infrastructure) plan has yet to be added soon.
Pink columns are values “spent” or spoken-for so far
Looking at each of the 4 government units in more detail.
Wall Street, banks, financial and credits market
Affects consumers and businesses directly
Bush’s Stimulus package looks tiny now that Obama is plotting a $500 - $700 billion Work Stimulation plan Difference is cash to consumers vs infrastructure improvements and programs
Insignificant when compared to the other programs
When compared to the GDP, the rescue package is quite substantial. Yet, previous and recent expenditures all add up to not even half of the rescue package. These are huge numbers!
Details of what’s in the major expenditures – adjusted for inflationary “worth” Both the Alaska Purchase and Louisiana Purchase look so insignificant. The Russians and French will never forget this. The Iraq war will soon catch up with or exceed the cost of Vietnam war
Looking at the numbers at the lower side of the spending fence: This puts in perspective the $9 trillion rescue plan’s magnitude The trade deficit is clicking up by $20,000 per second, about $1 billion per day. The budget deficit equals in value the surplus when Clinton left office, except one is negative, the other positive. In other words, we have burnt up one trillion dollars in 8 years
Where did all the promised money the Treasury “printed” go? China is the leading holder. We owe a total of almost $3 trillion.
Enough bad news. The good news, GDP has always been climbing up at about the same rate in spite of everything else.
Even as population grows, the per capita GDP grows proportionally. That’s good news
$8.5 trillion rescue
Welcome to The financial crisis The credit crisis The economic crisis The bailouts
What does it all mean? The economy - millions, billions, trillions
Is a picture really worth a thousand words? Jobs Lost Sept 403,000 Oct 320,000 Nov 533,000 Total 3 months 1,256,000 Total 2008 2,000,000
Summary of the $8.5 trillion rescue The big picture $ in Billions U.S. Maximum commitment Tapped so far Federal Reserve $5,671 $2,219 FDIC $1,549 $149 Treasury $947 $577 Housing $300 $300 U.S.A. $8,467 $3,245
Should we be worried? <ul><li>“ Things will get worse before it gets any better” </li></ul><ul><li>We have been there before and came out of it </li></ul><ul><li>Have we learned out lessons? </li></ul><ul><li>Things are very different this time </li></ul><ul><ul><li>Much, much higher numbers </li></ul></ul><ul><ul><li>We owe a whole lot more already </li></ul></ul><ul><ul><li>Several fronts of instability in the world </li></ul></ul><ul><ul><li>All the world’s nations are in this together </li></ul></ul><ul><li>We need to help each other out of this crisis </li></ul>