Derivatives, what a great mess we have....Submitted by Tessie101 on Fri, 02/26/2010 - 00:58
This is a great article, hope you all read it, and learn, especially if you do comprehend what a financial mess our country is in at the moment, and for quite a few decades to come.
When asked why there are $605 Trillion derivatives outstanding (1) how do you articulate an answer to this horrendous and almost unimaginable number? The US is the largest economy in the world but tallies only 2.3% in comparison. Global bank reserves amount to only 1.2% of this accumulation. The gargantuan size appears to defy all logic.
Before some of you experts out there accuse me of sensationalism let me quickly give you the response of the “all knowing” to knock this number down to something that is intended to allow you to once again sleep at night.
The rest of this article can be read here: