Billion Dollar Payout

Subject: Billion Dollar Payout Mon May 11, 2009 7:48 am

Spanish TV reported the enormous sums being doled out to Banks and other businesses for the bail-out. A viewer called the station and said:

“I’ve done some calculations. In America, they are going to pay out seven hundred (700) billion dollars, and that does not include the billions being paid out in Europe. From my calculations, there are 6,7 billion people on planet earth. That means that every person could receive 104 million dollars. Everyone would be a millionaire and wouldn’t need banks.”

Subject: Re: Billion Dollar Payout Mon May 11, 2009 7:55 am

Ummm. Wasn't the figure several trillion? I have gotten so disgusted that I have ceased to listen unless forced to by my other half.

Subject: Re: Billion Dollar Payout Mon May 11, 2009 8:05 am

Sounds as if that would be a great solution. However, we know that if they actually made everyone on the planet a millionaire, then a dollar would not be worth even a penny.

Gasoline would be $100 a gallon, a new home $10,000,000 and a new car $1,500,000.

We see prices that said one mil instead of one dollar, and it would cost a few hundred thousand every time we went grocery shopping.

But, it sure does sound good.

By the way, they're bailing out banks, auto companies, and home owners, when are they going to offer some help to mom and pop stores, used car dealerships, and people who rent?

Subject: Re: Billion Dollar Payout Mon May 11, 2009 8:39 am

Actually, to give each of the 6.7 billion people on earth 104 million dollars each would requier 696,800,000,000,000,000 dollars. that's $696.8 quadrillion! A trillion dollars evenly devided amoungst the 6.7 billion people on earth would give each person about $149.25. The viewer who called in probably confused millions with billions or trillions with quadrillions or something like that.

Subject: Re: Billion Dollar Payout Mon May 11, 2009 8:50 am

By the way, the total value of all the goods and services produced worldwide every year is only about $50 trillion. Therefore, it would take about 20 years to produce one quadrillion dollars worth of goods and services worldwide. $696.8 quadrillion would take 13,936 years to produce worldwide.

Subject: Re: Billion Dollar Payout Mon May 11, 2009 2:48 pm

P. Gordon,

Great math. Thanks!

Carol cheers

Subject: Re: Billion Dollar Payout Mon May 11, 2009 11:14 pm

It points out clearly how information can be distorted.
Trying to comprehend a billion is staggering. Simple math can be misleading.
News can be misleading. Politics can be misleading. Analysis can be
misleading.

It is often the case where figures lie, and liars figure.

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