High time world thought of a currency basket | GulfNews.com

High time world thought of a currency basket | GulfNews.com:

"The US shutdown was never about the loss of $160 million (Dh587,680 million) a day. And it definitely wasn’t about the associated costs that brought the final bill to a total that exceeds $20 billion.
In a recent piece in ‘Foreign Policy’, there was a very interesting list provided. In short, the list was of what could be bought or done with the money lost due to the shutdown. The list included, but wasn’t limited to, the equivalent of constructing 16 Burj Khalifa towers, organizing two London Olympics, the equivalent of El Salvador’s GDP, the equivalent of two times Iceland’s GDP, and half of what Warren Buffet is worth.
And you can also finance the entire lifestyle of Iron Man 15 times over.
However, the real cost cannot be easily evaluated for the very simple reason that the hit to the dollar’s credibility cannot be accurately quantified even if an article in Bloomberg estimated this to be 2 per cent of the US GDP."

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