Steve Keen | Paulson’s plan is like bailing the Titanic with a thimble

Writing for Crikey, Steve Keen explains why the $700 billion being spent on the Paulson Plan is nowhere near what’s needed to save the US economy.

He claims that the bail-out will actually make the US more insolvent, with Government debt set to hit 100% of GDP.

Read the full piece here. He also offers some “back of the envelope” calculations showing why the plan can’t work here at the Economonitor blog.

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