Perspective on the quantity Trillion

[gmerkt]

When the politicians talk in terms of Trillions of dollars, think about this.

1 million seconds equals less than twelve days

1 billion seconds equals about 31.7 years.

1 trillion seconds equals 31,710 years.

How soon are those multi Trillion dollar government debts going to be paid off?

For all practical purposes, when the government gets into Trillion dollar accounting, they are in fantasy land.

There is only one way to pay off those debts. Massive debasement of the currency.

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[CamoDeafie]

Indeed. The moment the Dollar lose its place as the most reliable reserve currency in the world; expect to see hyperinflation and a total crash of the American economy.

 

[slimmer13]

1 million seconds equals less than twelve minutes.

Not the best at math, but Im not sure that's right.

 

[gmerkt]

Not the best at math, but Im not sure that's right.

1,000,000 seconds / 60 = 16,666.667 minutes.

16,666.667 minutes / 60 = 277.778 hours.

277.778 hours / 24 = 11.574 days.

1,000,000 seconds = 11 days, 13 hours, 46 minutes, 40 seconds

Mrs. Raether, fifth grade teacher always told us to check our work, so:

86,400 seconds in a day, times 11.574 = 999993.6, close enough to 1,000,000

 

[TTSX]

60 seconds times 12 is 720. There are 720 seconds in 12 minutes

 

[GWS]

When the politicians talk in terms of Trillions of dollars, think about this.

1 million seconds equals less than twelve minutes.

1 billion seconds equals about 31.7 years.

1 trillion seconds equals 31,710 years.

How soon are those multi Trillion dollar government debts going to be paid off?

For all practical purposes, when the government gets into Trillion dollar accounting, they are in fantasy land.

There is only one way to pay off those debts. Massive debasement of the currency.

I see the million seconds thing has been corrected so I'll answer the question of when it will be paid off with a hearty "NEVER"!
I think you nailed it with the debasement of the currency as the only way out, but I don't think there's anyone who would accept container ships full of worthless paper, hence the debt will just get bigger and bigger because a worldwide depression is far worse.

 

[CamoDeafie]

There's an interesting perspective on the whole debt thing. https://www.bloomberg.com/news/arti...u-s-debt-is-nearer-the-floor-than-the-ceiling

 

[arakboss]

When the politicians talk in terms of Trillions of dollars, think about this.

1 million seconds equals less than twelve minutes.

1 billion seconds equals about 31.7 years.

1 trillion seconds equals 31,710 years.

How soon are those multi Trillion dollar government debts going to be paid off?

For all practical purposes, when the government gets into Trillion dollar accounting, they are in fantasy land.

There is only one way to pay off those debts. Massive debasement of the currency.

It's all fake money anyways. No reasonable person would ever believe that the US will pay off the debt. Heck they have to print money just to pay off the interest. We would all be living like rich folks if we could make up dollars like the gov does.

 

[arakboss]

There's an interesting perspective on the whole debt thing. https://www.bloomberg.com/news/arti...u-s-debt-is-nearer-the-floor-than-the-ceiling

These economist try to spin the debt in all kinds of ways to make it seem negligible. Truth is if we tried to run our finances like the government does we would be in jail for some type of fraud charges.

 

[TTSX]

They said it's a net cost of zero, so ...

 

[nwdaily]

They said it's a net cost of zero, so ...

A claim that bold deserves a Facebook fact check. Lol

 

[albin25]

FUN FACT;
If you could flat-stack a million dollars, they would fill-up 2 of Hunter Biden's boxes of art supplies....
But,
.....A TRILLION DOLLARS would stretch all the way from Big Pharma, to the overseas Bank accounts of the members of the Senate Budget Committee.

 

[gmerkt]

I see the million seconds thing has been corrected so I'll answer the question of when it will be paid off with a hearty "NEVER"!
I think you nailed it with the debasement of the currency as the only way out, but I don't think there's anyone who would accept container ships full of worthless paper, hence the debt will just get bigger and bigger because a worldwide depression is far worse.

Yeah, I got the days thing wrong as minutes first time around. Mrs. Raether was right about checking your work. There is always the thing about proof reading which I sometimes stumble on.

The numbers re. Trillion are correct and that is the scary part.

The debasement of the currency could occur in different ways. Unofficially, it could be an out-of-control rout like Germany, 1923. Or there might be an official means of debasement, such as a currency "reform." Something where the government would invent a "New US Dollar" and exchange one NUSD for every ten old USD. Or 100 to one. Or 1,000 to one. In bank accounts and so on, the decimal point would simply be moved. Just one technique that might be applied.

But in the paragraph above, that would be a serious solution to some sudden, catastrophic situation. The reality is, the government and the Federal Reserve already have a policy of relatively slow deterioration. The official Fed target is 2% per annum, which of course lately has apparently been exceeded. But 2% right there, they are giving up 2% of value every year officially; in ten years, that's a 20% loss of value. The official means of gauging what's actually going on are skewed, so knowing the actual number is elusive.

 

[GWS]

Yeah, I got the days thing wrong as minutes first time around. Mrs. Raether was right about checking your work. There is always the thing about proof reading which I sometimes stumble on.

The numbers re. Trillion are correct and that is the scary part.

The debasement of the currency could occur in different ways. Unofficially, it could be an out-of-control rout like Germany, 1923. Or there might be an official means of debasement, such as a currency "reform." Something where the government would invent a "New US Dollar" and exchange one NUSD for every ten old USD. Or 100 to one. Or 1,000 to one. In bank accounts and so on, the decimal point would simply be moved. Just one technique that might be applied.

But in the paragraph above, that would be a serious solution to some sudden, catastrophic situation. The reality is, the government and the Federal Reserve already have a policy of relatively slow deterioration. The official Fed target is 2% per annum, which of course lately has apparently been exceeded. But 2% right there, they are giving up 2% of value every year officially; in ten years, that's a 20% loss of value. The official means of gauging what's actually going on are skewed, so knowing the actual number is elusive.

Either option sounds like it would start a revolution. Unless the prices of things are reduced by the same percentage, which would probably make the whole exercise pointless

 

[Member 34319]

US dollar is used globally, as it is required to purchase petroleum, aka the petrodollar, so the world needs dollars. Take the estimated current global population of 8,000,000,000 and say each individual uses $20 of petroleum based product. So 8 billion times $20, 160,000,000,000. Make it $1000 or more and we start to jump into the trillions. The global US dollar amount is in the trillions. If the US wants to run the globe, which we know it does, it needs to flood the globe with dollars. So yes, I understand what they are trying to do, they are trying to fund the globe in US dollars to stay in power. Is it good for the country USA, probably not, but it keeps us number one in the world for a bit longer I guess.