Comments on: Big Number Bingo http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/ Random rants and curious explanation. Tue, 07 Sep 2010 21:23:20 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Al http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/comment-page-1/#comment-254 Al Thu, 27 Sep 2007 01:36:23 +0000 http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/#comment-254 At least you tried, Steve. To most people a million is a billion is a trillion, and the only place they could imagine a trillion gum balls would be under the seats in a movie theater. At least you tried, Steve. To most people a million is a billion is a trillion, and the only place they could imagine a trillion gum balls would be under the seats in a movie theater.

]]> By: Steve Alber http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/comment-page-1/#comment-250 Steve Alber Wed, 26 Sep 2007 14:35:15 +0000 http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/#comment-250 When I was a kid, gumballs cost $.01. If you had a nickel, you could be a big shot. After I read this, I tried to figure out how many gumballs the alleged $750 trillion in derivitives would buy (with the price of each adjusted for inflation)and discovered a new way to create a headache in the pursuite of a meaningless goal. Steve Alber When I was a kid, gumballs cost $.01. If you had a nickel, you could be a big shot. After I read this, I tried to figure out how many gumballs the alleged $750 trillion in derivitives would buy (with the price of each adjusted for inflation)and discovered a new way to create a headache in the pursuite of a meaningless goal.

Steve Alber

]]> By: Al http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/comment-page-1/#comment-196 Al Wed, 19 Sep 2007 19:34:56 +0000 http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/#comment-196 I've heard numbers over the past few years gradually rising into that range, from various sources (lately, it's often been put at $500 trillion +). The immediate source for $750 trillion was Ron Insana on CNBC, in a discussion with their "chief economist" Steve Liesman. Of course the $750 trillion is "notional value," and most of the derivative instruments are leveraged. The actual value of capital at risk is a few trillion, but I don't have a current estimate of that number. Needless to say, it's a murky and secretive world in which all such estimates are suspect. But it sure is BIG. I’ve heard numbers over the past few years gradually rising into that range, from various sources (lately, it’s often been put at $500 trillion +). The immediate source for $750 trillion was Ron Insana on CNBC, in a discussion with their “chief economist” Steve Liesman. Of course the $750 trillion is “notional value,” and most of the derivative instruments are leveraged. The actual value of capital at risk is a few trillion, but I don’t have a current estimate of that number. Needless to say, it’s a murky and secretive world in which all such estimates are suspect. But it sure is BIG.

]]> By: Mark http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/comment-page-1/#comment-194 Mark Wed, 19 Sep 2007 13:11:56 +0000 http://horse-you-rode-in-on.com/2007/09/18/big-number-bingo/#comment-194 Where did that number come from? ($750 Trillion). That's just staggering. $750 Trillion is something like 195+ BILLION pounds of Gold (and there are actually only about 309 MILLION pounds of the stuff on or in the planet), so the only way to represent that amount of money is by Information (or said differently, it exists only in the imagination of Man, and nowhere else). Where did that number come from? ($750 Trillion). That’s just staggering. $750 Trillion is something like 195+ BILLION pounds of Gold (and there are actually only about 309 MILLION pounds of the stuff on or in the planet), so the only way to represent that amount of money is by Information (or said differently, it exists only in the imagination of Man, and nowhere else).

]]>