WHAT IS A BILLION DOLLARS?
We elected this…………………..
What is a Billion Dollars…… THIS IS SO SCARY…….”
What is a Billion Dollars?
No Doubt some of you would have heard or read this but it was worth reading.
What is a Billion?
How many zeros in a billion???
The next time you hear a politician use the
word ‘billion’ in a casual manner, think about
whether you want the ‘politicians’ spending YOUR tax money.
B. A billion minutes ago Jesus was alive.
C. A billion hours ago our ancestors were living in the Stone Age.
D. A billion days ago no-one walked on the earth on two feet.
E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.
Quoted by : Ross Greenwood of Money News.
Just after 5 o’clock tonight I did a bit of maths for Jason Morrison.
But it’s so staggering its worth repeating now. First though; here’s what Chairman Rudd has been saying about – what he calls – these temporary borrowings.
Remember Those Words : Temporary Deficit.
The total Government debt could end up around $200 billion. So here’s a very basic calculation .. I used a home loan calculator to work it out … it’s that simple. $200 billion is $200,000 million.
The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years. Now here’s where it gets scary … really scary.
The total interest bill over the 20 years is – get this – $108 billion.
In fact, it had enough money to create the Future Fund to pay the future liabilities of public servants’ superannuation … and it had enough to stick $20 billion into the Building Australia Fund last year …
– no years spent running their own business
– no years spent starting their own business
– no years spent as a director of a family business or a company
– no years as a director of a public company
– no years in a senior position in a public company
– no years in a senior position in a private company
– no years working in corporate finance
– no years in corporate or business restructuring
– no years working in or with a bank
– no years of experience in the capital markets
– no years in a stock-broking firm
– no years in negotiating debt facilities with banks
– no years running a small business
– no years at the World Bank or IMF or OECD
– no years in Treasury or Finance.
But these people have plunged Australia into unprecedented debt, and now threaten to torpedo employee share schemes which they plainly don’t understand.
Well, in a way you can’t blame them. It’s clear the electorate did not do their homework, because the Gov’t is there by right.
If you have read this you may like to pass it on to your friends as you, them and me, will be repaying the above.
(re-printed without permission)
June 16th, 2010 at 2:15 am
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