Thursday, December 4, 2008

FREE MARKET FREE FALL

Washington Post - Would-be mortgage borrowers have rushed to refinance their loans and even weighed plans to buy homes following the government's move this week to loosen consumer lending. With interest rates suddenly plummeting, "the phone is ringing, the e-mails keep coming," said Jennifer Du Plessis, a mortgage adviser at Prosperity Mortgage, the lending arm of Long & Foster. "Real estate agents are hovering outside our office saying: 'I've got another client who wants to refinance.' "

Things You Should Know News -
How much is a trillion? A million seconds is 12 days. A billion seconds is 31 years. A trillion seconds is 31,688 years. The country has not existed for a trillion seconds. Western civilization has not been around a trillion seconds. One trillion seconds ago - 31,688 years - Neanderthals stalked the plains of Europe.

Gawker - According to Bloomberg, the US government has now pledged more than $7.4 trillion to rescue the financial system in the past 15 months. How much is 7.4 trillion? It is "half the value of everything produced in the nation last year," according to Bloomberg. It's enough to cut a check for almost $25,000 to every single citizen of the USA! - If you had 7.4 trillion pennies, you would have $74,000,000,000. That's enough money to buy the New York Times Co. 86 times over. If we say that 100 pennies stack up 4 inches high, 7.4 trillion pennies would stack up 4,671,717 miles high. That's enough to go to the moon and back ten times.

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