(read the comment!)
2009 Worldwide Bull Market Rally: Stock Markets Gain 60%, $17 Trillion in Value Since Early 2009:
"The value of world stock markets increased by $1.6 trillion in November (data here) to $45.4 trillion, the highest level for total world stock market capitalization since August 2008 (see chart)."
This ought to be great news.
Maybe it is, if true but something got me checking out a familiar number.
$45 trillion.
I did a little checking and voila! (as Sen. John Kerry would say to his foreign comrades)
Medicare Part A has $38-45 trillion in unfunded liabilities.
And that's as of today.
And that's just medicare.
Part A.
So our US government (that's you and me folks) owes almost as much for future medicare bills as the ENTIRE value of EVERY company listed on EVERY stock exchange in the WORLD!
And Obama, Pelosi, Reid and their ilk would spend even more.
3 comments:
If you got the above chart from Mark Perry's blog, you should give him credit.
2 links in my post to his post aren't enough?
Plus his site is linked in my "must reads".
How much credit do you think he needs?
GordoM
It just seems a HT is convention.
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