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March 20, 2023 by achrilock

“Because the bailout of banks following the Second Pulse crash was huge. They always are. The bailout of the 2008 crash, which served as the model for the two that followed it, was calculated by historians at somewhere between 5 and 15 trillion dollars. One careful guess said it was 7.7 trillion dollars, another 13 trillion; both added that this was more than the cost (adjusted for inflation) of the Louisiana Purchase, the New Deal, the Marshall Plan, the Korean War, the Vietnam War, the 1980s savings and loan bailout, the Iraq wars, and the entire NASA space program, combined. Conclusion: wars and land and social programs must not be very expensive. And compared to rescuing finance from itself, they’re not.”

— Kim Stanley Robinson, ‘New York 2140’

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Filed Under: bookshelf Tagged With: books, kim stanley robinson, new york 2140, quotes

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