A post in Boingboing led me to Donny's Blog which claimed that RIAA has been claiming much lower damage (300 million per year) due to piracy. The actual figure was $11,440,939,650,000 for January 2006 alone. I am speechless.
I checked the research method from Donny [to ensure that the claim are based on facts]. Without running the experiment again, I have no way to verify the numbers. But the methodology is absolutely sound. OK, I trust you, Donny.
As pointed out by his first fan-mail, the cost of piracy is three times the GDP of all countries combined!
Unfortunately, in the email, there is an incorrect claim:
Thank God the RIAA has stood up to these "pirates" and warned us before it's too late. [my emphasis]
People, it IS too late now!
The figure was for Jan 2006 and it is May 2006. Since then, 5 months have passed and gone. The accumulated debts as of today is already more than the world's GDP combined.
Don't panic! The title of this post is "Save the world from economic collapse".
I am proposing a rescue here.
I believe it was invented by Eron: accounting by projected income.
US government should immediately issue a tax collection notice to RIAA based on the projected income of RIAA (35% right) to collect 46.2 trillion tax dollars owned by RIAA for 2006. BTW, anyone has any estimate about how much RIAA should pay for the past years since piracy began? US government can use that sum of money to set up a fund to help people driven to bankruptcy due to piracy to help pay back and settle the debts, say 10cents in a dollar.