11 Most Costly Disasters of All Time

[Don Fernando]

I miss 'the war on Iraq' in this list. That's the biggest and most expensive disaster of them all.

[Sr Mike]

Originally Posted by Don Fernando

I miss 'the war on Iraq' in this list. That's the biggest and most expensive disaster of them all.

What is the current cost of the Iraq War?

[Sawyer]

Originally Posted by Sr Mike

What is the current cost of the Iraq War?

600 Billion, so it would still be a distant #2.

[Don Fernando]

Originally Posted by Sawyer

600 Billion, so it would still be a distant #2.

but without that war, there would be no credit crunch, so the new government wouldn't need 800 billion to fix the economy.

[Sr Mike]

Originally Posted by Don Fernando

but without that war, there would be no credit crunch, so the new government wouldn't need 800 billion to fix the economy.

What does the war have to do with the economy crashing? Does this include the failed mortgages?

[Buena Fortuna]

Originally Posted by Sr Mike

What does the war have to do with the economy crashing? Does this include the failed mortgages?

Excess $$ that was in the federal system was used to fund the war efforts and related expenses which started the credit tightening noose. Banks then had to increase deposits to cover debt because they couldn't get fed money. Then the had to cut back on how much and who they loaned to. People couldn't access credit and that started the dominoes falling about four + years ago and it has progressed downhill like a snowball until it became the avalanche that it is today. The two are not directly related but there was a definite cause and effect.