As the Great Recession continues around the world,

  • Prime Minster Gordon Brown, of the United Kingdom, calls on the International Monetary Fund to loan more than the 250,000,000,000 “dollars that it has already offered to economically developing nations.  Also, Mervyn King, Governor of the Bank (central) of England, estimates that the world’s commercial and vestment banks have now lost 2,800,000,000,000 “dollars,” and that the British banking system is closer to collapse than at any time since the Great War (World War I).
  • The Kingdom of the Netherlands buys 3,000,000,000, Euros worth of preferred (paying guaranteed dividends, but having no voting rights) stock in the Argon insurance company.  Geon’s stock value has declined 75% over the previous twelve months.
  • Hungary receives a 25,100,000, billion “dollar” rescue package to shore up public trust in its economy.  The International Monetary Fund will provide 10,200,000,000 Special Drawing Rights, the European System of Central Banks 6,400,000,000 Euros and the World (central) Bank 1,300,000,000 “dollars.”  This is the largest international rescue package for one any nation and the first for a member of the European Union since the Great Recession began.

       [added 7/5/2021]

       While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Roberto Pena, Retirement Administrator of Fresno County, california, announces that the 3,000,000,000 “dollar” pension fund that he administers has lost 29% of its value over the past year.

       [added 7/5/2021] Thanks to Freedom’s Phoenix for this entry.

Subsequent Events:

11/11/2008                   11/15/2008                   11/19/2008                    11/28/2008                   2/21/2009

4/25/2009                     6/9/2009                       2/3/2010                       5/12/2010

Authority:

“Law of the Jungle”
ccc-2point0.com/preface

References:

Subprime crisis impact timeline – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Subprime_crisis_impact_timeline

Mish’s Global Economic Trend Analysis Pension Time Bomb Explodes In US and Canada.mht
globaleconomicanalysis.blogspot.com/2008/10/pension-time-bomb-explodes.html

 

 

 

 



Current U.s. National Debt:

$36,167,124,467,492

Source