moola question

klose

Going on the basis that this is correct, its a picture series showing what a trillion dollars looks like
http://www.pagetutor.com/trillion/index.html

Then, by looking at this page http://www.usdebtclock.org/ was just wondering is the figuers on it say, for instance the us national debt is 14 and half trillion dollars (by no means the largest figure given, if they are correct that is) actual physical money? as in notes etc..?

I havent the foggiest of ideas how money,banking,loans,transactions etc etc.. actually work, just wanted to know.

Thats a lot of dosh in any case.!

J. Marston

That US debt clock will melt your brain.

klose

J. Marston wrote: »

That US debt clock will melt your brain.

My laptop nearly broke when i opened the page

whippedcream

whippedcream wrote: »

Going on the basis that this is correct, its a picture series showing what a trillion dollars looks like
http://www.pagetutor.com/trillion/index.html

Then, by looking at this page http://www.usdebtclock.org/ was just wondering is the figuers on it say, for instance the us national debt is 14 and half trillion dollars (by no means the largest figure given, if they are correct that is) actual physical money? as in notes etc..?

I havent the foggiest of ideas how money,banking,loans,transactions etc etc.. actually work, just wanted to know.

Thats a lot of dosh in any case.!

:rolleyes:

http://i269.photobucket.com/albums/jj80/cambridgebicycle/simpsons-trillion-dollar-bill.png

FGR

Is there any Irish equivalent to the US debt clock?

Consider each US taxpayer is is $130,000 in debt I'd like to see how liable each Irish taxpayer is.

Kojak

I thought this thread was going to be about giving out free money.

Bipolar Joe

To the actual question, I have no idea but I always thought it was meant as actual money, maybe not notes perhaps stocks and bonds and whatnot. Something I wonder is, who the Hell is all this money owed to when apparently every major country is in massive debt? It's not like the third world countries that are employed by big businesses pay their employees a huge amount.

smk89

ForegoneReality wrote: »

Is there any Irish equivalent to the US debt clock?

Consider each US taxpayer is is $130,000 in debt I'd like to see how liable each Irish taxpayer is.

Here you are. 1000% of our GDP!!!! Not sure if serious or statistical error...

stacexD

http://www.financedublin.com/debtclock.php

carefulnow100

Its fairly interesting to see how much a million dollars actually looks like.


Some of the films are way off!:eek:

carefulnow100

stacexD wrote: »

http://www.financedublin.com/debtclock.php

Is that accurate or just a wind up??

Well holy god the speed of it :eek:

k.p.h

Bipolar Joe wrote: »

To the actual question, I have no idea but I always thought it was meant as actual money, maybe not notes perhaps stocks and bonds and whatnot. Something I wonder is, who the Hell is all this money owed to when apparently every major country is in massive debt? It's not like the third world countries that are employed by big businesses pay their employees a huge amount.

Haha no they just print money and thats it. It's infinite. The Central Banks/FED are essentially privately owned institutions. They print the money when and where it's needed (out of thin air) and then loan it to everyone and charge interest.!

Well thats simplified a bit (to say the least) but essentially thats it . :eek:

Bipolar Joe

I'd heard that but wrote it off as BS considering the guy who told me is a professional at the stuff. How the fook can you pay back money with money that you got from the guy who gave you money plus extra? Ask the guy for another loan? Isn't this like a worldwide pyramid scheme?

carefulnow100

stacexD wrote: »

http://www.financedublin.com/debtclock.php

You'd think even debt would get some sleep:mad:

johnmcdnl

Bipolar Joe wrote: »

I'd heard that but wrote it off as BS considering the guy who told me is a professional at the stuff. How the fook can you pay back money with money that you got from the guy who gave you money plus extra? Ask the guy for another loan? Isn't this like a worldwide pyramid scheme?

https://www.youtube.com/watch?v=vVkFb26u9g8

Now I'm no banker or economist but this series of videos actually does a decent job of explaining how the system works...

it is a pretty bull**** system tbh


yes this video is probably over simplified but it does give a good description of how the banking system works and basically yes the bank just make money of of thin air when you ask for a loan...

stacexD

carefulnow100 wrote: »

Is that accurate or just a wind up??

Well holy god the speed of it :eek:

Well my economics lecturer is the onw who showed it to us so I guess it must be accurate enough... yes yes we're fucked

Standard Toaster

That second site gave me an epileptic fit

Sure it's something like $20Billion a year for air conditioning in Iraq and Afghanistan alone....insane

http://www.npr.org/2011/06/25/137414737/among-the-costs-of-war-20b-in-air-conditioning


At the time of this post Ireland is in debt to the tune of €113,331,924,414 :mad:

Kxiii

I remember reading somewhere that a good way to put millions and billions into perspective.

A million seconds is a little over 11.5 days where as a billion seconds is nearly 32 years :eek:

biko

johnmcdnl wrote: »

https://www.youtube.com/watch?v=vVkFb26u9g8

Now I'm no banker or economist but this series of videos actually does a decent job of explaining how the system works...

it is a pretty bull**** system tbh


yes this video is probably over simplified but it does give a good description of how the banking system works and basically yes the bank just make money of of thin air when you ask for a loan...

Thanks a mill for that! It explains it really well imo and also kinda shows why the government couldn't let the banks tank.

jumbone

k.p.h wrote: »

Haha no they just print money and thats it. It's infinite. The Central Banks/FED are essentially privately owned institutions. They print the money when and where it's needed (out of thin air) and then loan it to everyone and charge interest.!

Well thats simplified a bit (to say the least) but essentially thats it . :eek:

http://en.wikipedia.org/wiki/Quantitative_easing#Printing_money

biko wrote: »

Thanks a mill for that! It explains it really well imo and also kinda shows why the government couldn't let the banks tank.

I haven't watched the video yet but you should check out the "explain it like i'm 5" section on reddit - its really good for finding out about concepts that you can't get your head around fully and there is no judgemental posts either. Some of the analogies get incredibly detailed and can be pretty funny too!

Donal Og O Baelach

This sketch also helps explain some things

http://bit.ly/bQhBUa

klose

^^^^^ very good

That really boggles me, where is all these billions/trillions of euros/dollars? Like is the money still in transactions or what? Surely germany and China dont have it all?

Economics is confusing