Everybody knows about the financial crisis the world is going through, but I am sure at least some of you don't really understand why it all started, right?
Well the following article explains exactly how it all started in a way even a 14 year old 'pokemon' fan girl can understand.
Enjoy - The article
The American debt is basically the amount of money owed by the American government to U.S debt instruments, such as treasury bills, bonds etc. You can read more about it here.
As of three weeks ago, the American debt passed the 10 trillion $ (!!!) mark. The interesting thing is that the American debt clock in Times Square, which shows the current debt, was not built to hold such huge numbers. As you can see in the picture, the $ sign now also holds the tens of trillions digit. Try this out for more insights.
If this recession will last as long as expected, the debt will probably increase much more, and there will be no other option but to build another clock, with a few more digits...
Posts
All Comments
