100 million is a billion

Tim Robbins

Anyone see Vincent Browne last night? The entire panel thought that there was a 100 million in a billion.

Then they proceeded to balk about Anglo making a 900 million loss when it's actually 9,000 million loss.

Pretty cringy stuff from is usually a program with reasonable intellectual standards...

Idbatterim

unbelievable that non of them picked up on it! if there were only 100 million in a billion wed have pretty much nothing to worry about!

Laminations

Although I watch the show on occasion and usually enjoy it, Vincent Browne is quite scatter brained at times. It was cringe watching him struggle when they automated the texts instead of printing them out for him.

The example you give is a big maths boo boo

c-note

woo hoo! go project maths!

to be fair i dont think anglo irish knew what a billion was either

Permabear

This post has been deleted.

woodseb

was this man on Vincent Browne's panel?

Cool Mo D

donegalfella wrote: »

This post has been deleted.

Does anywhere actually use the long scale anymore? I have never seen it used, and would consider it obsolete. Although some Americans seem to think that we do.

hinault

Indeed.

Here is a thought.

I think there would be merit in the idea of allowing the public to actually see a billion (or million) euro's looks like.

By physically seeing the sums involved, this might make the sums being spoken about more tangible and it might just clarify the huge sums involved in the bailing out of the banks and the bank system.

And it might inform the debate more effectively.

A trader seeing a number on a screen - cannot appreciate what that number represents.
Nor can a politican talking about cutbacks visualise the numbers involved.

Just a thought.

ei.sdraob

just so there is no confusion

* our national debt is north of 80 billion ( 8 * 10^10 , thats an eight and 10 zeros )

* Anglo wants another 9 billion this week ( 9 * 10^9 )

* Our deficit this year (optimistic scenario :rolleyes:) will be 20 billion ( 2 * 10^10 )

* Average wage is 38000 ( 38 * 10^3)



you know the country is in trouble when you have to move onto scientific notation to explain the scale of the problem :mad:

Laminations

hinault wrote: »

Indeed.

Here is a thought.

I think there would be merit in the idea of allowing the public to actually see a billion (or million) euro's looks like.

By physically seeing the sums involved, this might make the sums being spoken about more tangible and it might just clarify the huge sums involved in the bailing out of the banks and the bank system.

And it might inform the debate more effectively.

A trader seeing a number on a screen - cannot appreciate what that number represents.
Nor can a politican talking about cutbacks visualise the numbers involved.

Just a thought.

Well there is 1 billion dollars - Michael Marcovici with artwork “One Billion Dollars” stacked One Billion Dollars on 12 standard pallets, altogether 10 Million 100 US-Dollar Notes

I'd guess a person standing beside that would come up to 3/4 of the height

ei.sdraob

Laminations wrote: »

Well there is 1 billion dollars - Michael Marcovici with artwork “One Billion Dollars” stacked One Billion Dollars on 12 standard pallets, altogether 10 Million 100 US-Dollar Notes

someone posted an image of what NAMA looks like only few days ago in parallel thread, cant find it now

Laminations

ei.sdraob wrote: »

someone posted an image of what NAMA looks like only few days ago in parallel thread, cant find it now

Is it this?

ei.sdraob

Laminations wrote: »

Is it this?

lol

----

i found it here, its the size of Anglo losses (11 odd billion)

Sponge Bob wrote: »

Visualisation just in.

http://thestory.ie/2010/03/19/anglo-losses/

This is an adult male visualised next to €1m in €100 notes to scale



Meanwhile this is the SAME male visualised next to the amount of money ( lower end estimate) that Anglo will declare lost next week. It may be approx 25% more than the picture below.



HTH

thestory.ie wrote:

And oh yes, Seanie next to €1 billion, in cool hard cash

hinault

Laminations wrote: »

Well there is 1 billion dollars - Michael Marcovici with artwork “One Billion Dollars” stacked One Billion Dollars on 12 standard pallets, altogether 10 Million 100 US-Dollar Notes

I'd guess a person standing beside that would come up to 3/4 of the height

Thanks.

I think if the public could actually see the above image in reality, it might help them to appreciate the sums being bandied about on both sides of the debate.

It might help to crystalise the gargantuan sums involved with Anglo, BOI/AIB, Budget deficit, National Debt, DDA valuation error etc..........................

The sums being bandied about now - across all sections of the debate - are too huge to comprehend for most people.

peasant

Cool Mo D wrote: »

Does anywhere actually use the long scale anymore?

In Germany it's Million, Milliarde, Billion, Billiarde

...so a billin is a millin millin
/ bat okeefe

ei.sdraob

hinault wrote: »

Thanks.

I think if the public could actually see the above image in reality, it might help them to appreciate the sums being bandied about on both sides of the debate.

It might help to crystalise the gargantuan sums involved with Anglo, BOI/AIB, Budget deficit, National Debt, DDA valuation error etc..........................

The sums being bandied about now - across all sections of the debate - are too huge to comprehend for most people.

i think people can comprehend this figure here (for only the national debt, excluding nama and anglo)

http://www.thedebtpin.com/



quickly approaching 40,000 euro per worker

thats a cool

80,000 per taxpayer (since half dont pay much taxes if at all) :cool:


edit: if you need help visualising 80 grand yes this Bentley could have been yours

Laminations

hinault wrote: »

Thanks.

I think if the public could actually see the above image in reality, it might help them to appreciate the sums being bandied about on both sides of the debate.

It might help to crystalise the gargantuan sums involved with Anglo, BOI/AIB, Budget deficit, National Debt, DDA valuation error etc..........................

The sums being bandied about now - across all sections of the debate - are too huge to comprehend for most people.

Yep I think thats the problem, seeing the stacks of cash or not. When figures go that high you just cannot get your head around them, your reference points are gone out the window.

We are spending our entire income tax-take for a year on Anglo. And they will come back for more.

Laminations

peasant wrote: »

In Germany it's Million, Milliarde, Billion, Billiarde

...so a billin is a millin millin
/ bat okeefe

Batt O'Keefe thinks of money in quantities of these

Permabear

This post has been deleted.

A Dub in Glasgo

Either way it is actually nothing to do with 100 million which is what the numpties on the show thought

baalthor

For a while I had a signature stating that this year's planned government deficit is greater than the combined annual budgets of NASA, ESA and the Russian and Chinese space agencies.
I removed it because it was depressing me ...

danman

baalthor wrote: »

For a while I had a signature stating that this year's planned government deficit is greater than the combined annual budgets of NASA, ESA and the Russian and Chinese space agencies.
I removed it because it was depressing me ...

Lucky buggers, they can spend our national debt looking at stars.…

ei.sdraob

danman wrote: »

Lucky buggers, they can spend our national debt looking at stars.…

for the cost of NAMA (or better part of our rapidly growing debt) we could send people to Mars or build a Channel Tunnel like tunnel from South East coast to France :eek:

yes depressing to say the least

Cool Mo D

donegalfella wrote: »

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It's not really the same thing though - most other languages have explicit names for 1,000,000,000 and 1,000,000,000,000, saying there is a long and short scale implies that the same word could possibly mean both amounts under different circumstances.