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Scott Cram Inner circle 2678 Posts |
Just for fun, I posted an entire article on just how t...... billion.
Besides the ways with salt and pennies in the article, here are some other ways to visualize 700 billion: 1) Here's what $315 billion in $1 bills looks like (That tiny black speck beside it is a car). Picture a second pile of the same size, and then a third pile that's about a quarter the size of the first pile. 2) The average piece of writing paper can only be folded in half about 7 times, which results in 128 layers. The world record for folding a piece of paper in half is 12 times, which resulted in 4,096 layers. If you wanted to get to a point where you had more than 700 billion layers of paper, you would have to fold that piece of paper 40 times, resulting in 1,099,511,627,776 layers. The thickness would be more than 1/4 of the distance from here to the moon! 3) If you were 700 billion meters from Earth, you could see the complete orbital paths of Mercury, Venus, Earth and Mars around the sun! You might even see a tiny bit of Jupiter's orbital path. 4) 1 million seconds ago was only 12 days ago. 1 billion seconds ago was roughly 31 years ago. 700 billion seconds ago was about 22,200 years ago. Humans were around at this time, but it would be about another 12 millenniums (not years or centuries, millenniums) after this time before the first civilizations would appear. Does anyone else have any other ways to visualize how big 700 billion is? |
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kregg Inner circle 1950 Posts |
The Magic Café went on line in what 2001? Since that date, to the time of this post only 2,493,614 message have been posted (and not deleted). Giving us a shortfall of 699,997,504,386 post. Come on JT, teach us how to kick up our post count ... we're not even close.
If all 36,757 members had 20,000 post we'd only total 735,140,000.
POOF!
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Scott Cram Inner circle 2678 Posts |
I've found another good visualization of 700 billion in the blog post Crunching the Numbers.
To sum it up, it imagines using a 40-page-per-minute inkjet printer to print $700 billion in counterfeit $100 dollar bills. Assume you're starting on Monday, September 29, 2008. 1 such printer would print 1.2 million dollars per hour, or 14.4 million dollars per 12-hour day (Hey, you need some time to change paper and cartridges!). One day's printing would be enough to buy every senior citizen in the US a new hearing aid battery! Next, you add 5 more printers to speed things up. The second day, you manage to print $86.4 million, bringing your total to $100.8 million. At this point, you could buy every child in America a candy bar and a toothbrush! Running these 6 printers for 5 days, 12 hours per day, at the end of the first week, you would have $360 million, enough to pull a $1 coin out of the ear of every person in the US, and let them keep it! At this point, you realize that you can't skip lunch, so you start working 11-hour days (breaking for lunch), 6 days a week. By the end of the 2nd week, you've printed $914.4 million - enough to buy every senior citizen in the country a 2-year subscription to Reader's Digest AND a lighted magnifying glass! Yet, you still haven't printed your first billion yet! So, we alter the schedule to 7 days a week, still with 11 hour days, and keep going. It's now Christmas morning, and you've printed a total of $5.904 billion. While it's enough to present every kid in the US with a new bicycle on Christmas morning, you're not even 1/100 of the way to your $700 billion goal yet! Being Christmas 2008, there are new printers available that can print 1 page per second (50% faster than the printers you've been using), so you get 10 of those to speed up your printing. Printing $5,000 per second, for 11 hours a day, 7days a week, for all of 2009 would result in your having printed $61.776 billion dollars. You could buy every US adult a brand new iPod Touch, but you're still less than a tenth of the way to your goal! Finally, on or about March 20, 2020, you've finally printed $700 million dollars! At this point in time, Barack Obama is 58, Joe Biden is 73, John McCain is 84, and Sarah Palin is 56. |
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Brian Proctor Inner circle Somewhere 2323 Posts |
Holy Crap!
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Scott Cram Inner circle 2678 Posts |
Somewhat related: Here are the Fat Boys helping you learn ...... billion.
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mvmagic Inner circle Has written 1322 Posts |
With that, you could get 1,076,923 brand new Wellington Origami's (hey, this is magic Café after all, LOL).
Now I wonder how long would it take Bill to build them..?
Sent from my Typewriter
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kregg Inner circle 1950 Posts |
Origami's all around then! Are there that many magicians the world over?
POOF!
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Scott Cram Inner circle 2678 Posts |
Ever wonder how they arrived at the $700 billion figure? Here's the quote of the year, from Forbes: Bad News For The Bailout:
Quote:
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy. Yep - they just wanted a large enough number to scare people into immediate action. Congratulations, Treasury. Your scam worked. |
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balducci Loyal user Canada 227 Posts |
I read somewhere else that a big number was needed and the idea of $800 billion was tossed out ... but since that was too close to sounding like $1 trillion, they reduced it to $700 billion.
If you want to scare yourself a little, this next story is a nice read ... Basically, it suggests that the $700 billion (or whatever) is just a drop in the bucket of water needed to put out the financial fires: http://www.theglobeandmail.com/servlet/s......TPStory/
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
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kregg Inner circle 1950 Posts |
Since when has Congress been able to perform simple math? In truth with all of the other bailouts we're closer to $900 Billion. Lest we forget that the FDIC is now clamoring for money, the auto industry will not be able to cover their union pensions, and social security is due to fail as soon as the tidal wave of boomers hit.
POOF!
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Scott Cram Inner circle 2678 Posts |
Quote:
On 2008-09-29 02:51, mvmagic wrote: Wait . . . for $700 billion you could only get about 1 million Wellington Origami illusions? They're not going to sell too many at $650,000 per box. I don't even know Jim Steinmeyer personally, but I could still call him up and get an Origami illusion for less than that. Looking at Wellington's Origami page, I see that they go for only $6,500. At that price, you could buy 107,692,307 Origamis (but you don't get the stand for the swords and mirror!). Of course, if you want the Greg Frewin version for $9,000, you could buy "only" 77,777,777 of them. |
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mvmagic Inner circle Has written 1322 Posts |
Quote:
Ooops...you're right...Wellington hasnt upped the price, me being blonde I left two zeros out (yes, surprisingly I used a calculator...its a good thing I am not an accountant! LOL) But hey, after the show, you can give out an illusion instead of a cheap deck of cards! I guess Bill at Wellington will be even more busy now! LOL
Sent from my Typewriter
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gaddy Inner circle Agent of Chaos 3526 Posts |
Apparently there's only 29.7 billion (+/- a few hundred million or so...) webpages on the www right now.
*due to the editorial policies here, words on this site attributed to me cannot necessarily be held to be my own.*
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kregg Inner circle 1950 Posts |
How many square feet are there in 700 billion dollars?
If memory serves, I don't think we've ever had more than 800 billion dollars in circulation at any given time, and more than have of that is spread around in foreign nations. In other words, if I had a net worth of 400 billion and I tried to cash a check for that amount, every bank in the US and all of the cash money in our economy wouldn't be enough to cover the check. Doubling our cash in circulation is one of the worst ideas in our history, shoring up the dollar is the answer. We have become a confederacy of dunces.
POOF!
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Scott Cram Inner circle 2678 Posts |
This is somewhat related to a way I mentioned in the third post, but with a "sleightly" different approach:
Let's say I ask you to perform that magic routine where you pull money out of someone's ear. However, instead of pulling a quarter from their ear, you're going to pull a $100 bill out of their ear, and let them keep it. You're required to perform trick this for every person on the planet, but I'll supply you with $700 billion dollars, and you get to keep whatever is left over as payment for your performance. Once you've done this trick for everybody on the planet, you'll have more than $27 billion as payment for that performance! If you put that in an account that pays just 3% interest annually, that account alone will make $810 million for you in the first year! This was figured by dividing $700 billion by the world population figures from: http://www.census.gov/main/www/popclock.html (I rounded it up to |
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EsnRedshirt Special user Newark, CA 895 Posts |
Just for some more eye-popping perspective, the total global gross domestic product- that's the value of all goods and services produced in the world in a year- is estimated at $65,610,000,000,000.00 according to the CIA world factbook. That's over $65 trillion dollars.
However, some estimates place the value of the global derivatives market (futures, credit default swaps, derivatives, etc.) at over $596 trillion dollars- almost ten times the global GDP. Money from nowhere, indeed... -Erik
Self-proclaimed Jack-of-all-trades and google expert*.
* = Take any advice from this person with a grain of salt. |
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balducci Loyal user Canada 227 Posts |
Looking at it from a different angle, if you invest $1 in a bank and you could get that bank to pay you a 12% compounded annual interest rate, then you (or more likely your heirs) would have over $700 billion after 180 years.
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
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airship Inner circle In my day, I have driven 1594 Posts |
What's $700 billion dollars? It's over $2300 for every man, woman, and child in America. That's what it is.
'The central secret of conjuring is a manipulation of interest.' - Henry Hay
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Nell Loyal user Germany 265 Posts |
So assuming this all moves forward...where is the $700 Billion coming from? The nation is over $9 trillion in debt (what's one more?!). I mean honestly? Are they just going to say, "Consider it accounted for?" This doesn't make sense...
"A trick may be very good...but...the illusionist must be better than the trick." -René Lavand
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EsnRedshirt Special user Newark, CA 895 Posts |
Nell,
Nah, we're just going to sell off National-debt-based-derivative-credit-default-swaps until we make the money. There's physicists working on the equations that figure out their value; don't worry, we don't need to understand it to sell it... /snark In short, we're never realistically going to pay it back. And it's only a matter of time before every other country on earth realizes this and stops loaning us money. At that point, we're completely hosed. -Erik
Self-proclaimed Jack-of-all-trades and google expert*.
* = Take any advice from this person with a grain of salt. |
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