numonex on 11 August 2010
The US were hoping for the Chinese economy to pull them out of a huge financial black hole and save the world economy from ruin. The US tried to fill a $200 trillion dollar black hole with a government bail out of $20 trillion. That is literally like trying to stop the Titanic sinking by putting your hand in the hole. The financial derivatives market had somewhere between $1 quadrillion and $1.5 quadrillion invested into it: superannuation, savings and mortgages, etc all tied up into it. A lot more than $270 trillion which was reported in the media
