Friday, November 19, 2010

The Debtor of the Western World - NYTimes.com

The Debtor of the Western World - NYTimes.com: "It is the figures, mainly, that cow us into silence. It is estimated that the banking debt of this nation, which has a population of only 4.6 million, may be substantially more than 100 billion euros. That is 100,000 millions and rising. When we were at school it amused our science teachers to dazzle us with astronomical statistics — so many myriads of light years, so many zillions of stars — but the numbers that we are being forced to count on our too-few fingers now have nothing to do with the fanciful dimensions of outer space. They represent precisely the breadth and depth of the financial hole into which we have toppled headlong."

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