700 billion is an incredible amount of money.
I fully admit I know very little about the complexities of the recent situation with the folding-in of large banks in the US.
But I find the hype and hollering about impending financial crisis (not to mention the proposed 700 billion dollar bail-out) to be an insult to the rest of the world, which has much bigger problems than losing their mansion or their high-powered job.
The stark difference in standard of living needs to be kept firmly in mind here. Yes, people in the US (and perhaps other developed parts of the world which are financially linked to it) appear to be in for some rough times (I honestly don’t know what will happen), but there is a difference between losing a $100,000 home with all kinds of conveniences, and (for example) having to move in with a relative’s house for a few years on one hand, and never even dreaming what it would be like to have your own house, car, blender, toaster, television, electric razor and cotton sheets at all on the other hand. Continue reading “700 billion”