A Trillion

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Old 04-20-09, 04:26 PM
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A Trillion

I recieved this in an email from the Libertarian party. It is kind of astounding.

So how much is one trillion anyway? The creative folks at govbudget.com provide some perspective:


1 trillion seconds = 31,546 years. For reference, that many years ago, we were in the middle of the Stone Age.


1 trillion dollar bills placed end to end would reach 96.9 million miles, far enough to reach the Sun.


The average new car costs $28,400. $1 trillion would buy more than 35 million new cars.


The entire Federal budget is $2.8 trillion. A stack of that many dollar bills would circle the Earth more than 7 times.


Gross Federal debt is more than $8.7 trillion, which would make a stack of dollar bills that would reach from the Earth to the Moon and back with some to spare.

You may have to use the refresh option due to the fact Windows Internet Explorer doesn't always show them the first try.


$8.7 trillion in one-dollar bills would cover an area larger than each U.S. state except for Alaska and Texas.
If that explanation is not sufficient, our dear readers may benefit from a graphic to help them understand the magnitude of the term. See what we have http://www.lpstuff.com/images/trillion.jpg

And, if you want to know where it all comes from and goes to, you may be interested in this[URL="http://img.297.imageshack.us/img297/5927/wallstatdatlarge.jpg"] http://img297.imageshack.us/img297/5...tsdatlarge.jpg However, we recommend you save this study. It would be appropriate just before you head for bed.
 

Last edited by nightowlpunk; 04-20-09 at 04:41 PM. Reason: fixing links
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Old 04-20-09, 05:20 PM
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Ever hear the one where you could stick every man woman and child on earth in something like a 1/4 mile cube?
 
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Old 04-20-09, 05:26 PM
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Can't say that I have. Need more characters, why are we guilty before being proved innocent? Y'all oughta see my Fedral tax return from last year, that is definite proof I am NOT a spammer.
 
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Old 04-21-09, 05:59 PM
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A Trillion Dollars......is 100 thousand, million dollars.
 
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Old 04-22-09, 04:33 PM
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To get every man woman and child into that 1/4 mile cube is this before or after being turned into ash from a nuclear explosion?
 
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Old 04-22-09, 04:40 PM
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Hey, after I got a check for a billion dollars, I was overwhelmed and could not truly comprehend the number. I surely am not going to be able to comprehend a trillion dollars.
 
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Old 04-22-09, 04:43 PM
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Originally Posted by nightowlpunk View Post
why are we guilty before being proved innocent? .
I know of no courts that declare one "innocent", merely "not guilty". There is a difference.
 
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Old 04-23-09, 05:41 PM
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A billion dollars is a comparative pittance. But you think?, after considering this?:

We can all relate to how many people are in a 100,000 person football stadium, as we see that on tv. Now consider that 10 of these stadiums next to each other would be 1 million people. Now consider a billion is 1000 times more. 10,000 100,000 people football stadiums? Is that right? Just for a measely billion? How can one even comprehend that? And we are supposed to comprehend a trillion? Or 12 trillion (debt)?

So we can forget trying to comprehend that the nearest star is something like 30 trillion miles (about 5 1/2 light years or something close to that) away from us, where aliens might come from.
 
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Old 04-23-09, 11:12 PM
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A "trillion" does not need to be comprehended. To me its similiar to when I hear that a baseball player makes 25 million a year. Those numbers mean nothing to me other than as a means to compare values relative to what others are making.
 
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Old 04-24-09, 12:33 PM
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It is really a shame that whoever dreams up these stimulus plans doesn't have to pay for them out of his/ her pocket and not burden taxpayers of the future.
 
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Old 04-24-09, 01:29 PM
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If certain factions hadn't pushed the idea of home ownership for all, regardless of the person's ability to pay, then we wouldn't be in this situation.

That, of course, is a huge oversimplification but it was the advent of 100% financing, no interest loans, no credit checks, no ability to repay needed, easy bankruptcy and a slew of other factors that allowed the "funny money" and derivative markets to offer the possibility of huge gains to any jerk who had a few bucks to invest but no idea of just what he was investing in. Add to that simple greed and having to "keep up with the Jones" by tapping false equity in their homes and it is easy to see the mistakes that far too many people made.

Last night I watched a program on HGTV about a couple buying their first house. It turned out to be a repeat first aired in 2007 but the idea is still being used. This newly-married couple wanted it all and they wanted it now and they wanted it without paying for it. The man was a loan officer at a bank so he should have known better but... The wife wanted the "perfect" house in the "perfect" area and she wasn't willing to settle for almost. The man wanted a low priced ($250,000 max) home in an area that would appreciate a minimum of 10% annually and they wanted to be near a big city, I think it was Atlanta.

As the show concluded they made a deal on a house that had many problems including land sloping towards the house, water in the crawlspace, termite/pest problems, etc. The seller "fixed" the problems (yeah, I'll just bet they did) and the couple bought the place with no money down and two mortgages with a ten-year no-interest financing. I wonder where they are today?
 
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Old 04-24-09, 05:02 PM
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Originally Posted by mjd2k View Post
A "trillion" does not need to be comprehended. To me its similiar to when I hear that a baseball player makes 25 million a year. Those numbers mean nothing to me other than as a means to compare values relative to what others are making.
What bothers me is Tiger(or the winner) of a weekend of golf, pocketing over 1 million for something I would go out and do for free, as I love to golf. Nothing beats almost acing par 4 holes! Or going for the green by going over trees to shorten a hole by 100 yards. Or watching your (pretty old)dad get his first hole in one. Etc. Quite annoying to that (I think) Jack Nicklaus earned like 6 1/2 million for his entire career (was finally overtaken by Tom Kite who had a huge career of 2nd place finishes), and now the top man can make about double that in a year! Sad. Inflation adjustment has not been that much.
 
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Old 04-24-09, 05:14 PM
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Originally Posted by furd View Post
If certain factions hadn't pushed the idea of home ownership for all, regardless of the person's ability to pay,.......
Oddly enough, I always felt it was like pulling hens teeth for me to get even fairly miniscule loans in life. I'd like sit there before the loan officer, in a chair, sweating and begging under my breath, "Please, please please, say yes." Even after I had payed off several loans, they still had to be careful and verify my current status, as if I had never dealt with them before. Past history meant nothing. They weren't about to take any chances.

So. I wonder when that started that people could so freely get home loans?
 
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Old 04-24-09, 05:24 PM
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Originally Posted by furd View Post
...... and the couple bought the place with no money down and two mortgages with a ten-year no-interest financing. I wonder where they are today?
Did they say what that house cost? I'm assuming not the $250,000, with a crawl space...and termites. That be quite the serious monthly payment if it were.
 
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Old 04-24-09, 05:35 PM
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It really got going under the Clinton administration although the seeds were sown during the Reagan years as part of deregulating banks, savings & loan associations and mortgage lenders. Also less oversight of Wall Street by the Securities and Exchange Commission. It was all part of "getting government of the peoples' back" but most people didn't realize that what it really meant was removing government protection for the common people while allowing the mega rich to pretty much do as they pleased.

While I am a Capitalist I also understand the dangers of unfettered capitalism. Unfettered capitalism is almost as bad as unfettered government.

Luckily I haven't needed to take out any loans in other than my last mortgage for about 20 years. When I did take out a mortgage to buy a new (to me) house I had sufficient funds in my 401(k) to buy the house outright so the mortgage lenders were very happy to loan me money. Now with an income of about $22k yearly and having lost at least a third of the value of my house and 401(k) any lender of integrity would probably show me the door with the end of his shoe. One of the few smart things I did, other than paying off my mortgage, was to take out a Home Equity Line Of Credit (HELOC) before I retired. I don't pay any fees on the HELOC and the money is available with a few taps of my keyboard. I haven't needed to access it (yet) and I don't foresee having to in the near future but anything can happen.
 
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Old 04-24-09, 05:43 PM
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Originally Posted by ecman51` View Post
Did they say what that house cost? I'm assuming not the $250,000, with a crawl space...and termites. That be quite the serious monthly payment if it were.
As I recall the monthly principal and interest payment was about $1700 or $1800 month. The house was priced at $250k and the seller paid $7k in closing costs. I suspect this couple was like a young man that used to work for me in that they never took into account taxes and insurance escrow accounts and further that the taxes and insurance were NOT fixed for the life of the mortgage.

BUT, the kitchen had granite counters!

I don't know, I don't watch HGTV very often but it seems to me that the people portrayed on these real estate shows are not all that bright. They ooh and aah over strictly cosmetic things while ignoring the "bones" of the house. I'd rather have a house that needs a paint job than one with water in the crawlspace. Then again, I'm an idiot.
 
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Old 04-25-09, 08:49 AM
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With runaway spening like this is anyone else wondering if they should be ashamed to admit they are Americans? I just don't want to be judged by the rest of the world like the idiots doing this stuff.
 
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Old 04-25-09, 10:55 AM
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No. It is a bit different than stupid people that simply spend more than they take in. It is a systemic problem that goes to the core of the entire economy.

If it were just a (relatively) few people that made stupid decisions when buying a home or some really greedy people that made unwise decisions on where to invest their money I would say to let the chips fall where they may. But it isn't anywhere near that simple.

What happened is that without regulation the power brokers created money from thin air. They completely manipulated all the financial markets and created such a web of derivatives and other phoney schemes that even seasoned investors bought into the schemes. They created loans that had absolutely no chance of ever being repaid and then in order to sell these loans they created insurance policies to guarantee payment to those that bought the loans. Trouble is, the insurance policies were as worthless as the loans they were to cover. These insurance policies were based upon certain financial companies never having a bad day in the market, in other words, the insurance was not based in a pool of risk but instead based upon the net worth of the financial institution that was used to cover the insured. With the various financial institutions buying all these worthless loans and then covering their worthless investments (the loans) with worthless insurance it became a house of cards balancing entirely on the strength of the market as a whole.

Then, when one single institution started to see its inflated value start to drop it rumbled throughout the financial world leaving us in the present mess. Even prudent investors that thought they had made conservative investments are on the losing side BECAUSE the companies and institutions THEY invested in turned around and made the funny money investments. The result is that everyone is losing, regardless of what their individual strategy may have been.

I don't like it any more than you, Night Owl, but as bad as it is it could be a whole lot worse without the federal government stepping in.
 
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Old 04-25-09, 12:36 PM
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furd,

I think I will write your name in for President the next go-around.

And - President Furd sort of sounds vaguely familiar.
 
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Old 04-25-09, 03:46 PM
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If nominated, I will not run. If elected, I will not serve.

I don't remember who said those words but they work for me.
 
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Old 04-25-09, 04:00 PM
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Originally Posted by furd View Post
If elected, I will not serve.
.
I don't remember either but I do remember a few elected officials that maintained that motto after they were elected.
 
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Old 04-26-09, 09:47 AM
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Is anyone taking bets on when Washington D.C. will be destroyed by angry taxpayers?
 
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