Which part? For me, the fact that the World cut rates by 1/2 point is just spooky. This was the first global financial decision I've ever seen. When the world banks start acting together like this, the next step will be a single global bank. I've seen France and I think Germany already talk about this in the last few days.
In terms Americans could understand what is that in USD? Around $90Billion? wow - I thought we were screwed. On a per capita basis $50Billion Pound has got to be bigger than $700Billion US.
Maybe not, this stuff's is going to drive me insane. I gotta start thinking about happy stuff. You know - like ABBA music.
well, just for fun, I did the math.
$50B GPB = $86B USD
$86B USD / 60MM (population of UK) = $1433 USD per person
$700B USD / 300MM (population US) = $2333 USD per person
take 9% higher standard of living for the US and $1433USD should feel like about $1562USD for the Brits compared to our $2333USD for the yankees.
So, yeah Steve, you were right, I'm "a total idiot" because the math in my head was off by about 35%. But, that's ok because you're still ugly. :lol: