Poverty
Related: About this forumI need a new frame of reference (and your opinion)
I've been looking for an easily understood and remembered way to think of how much a billion dollars is. A billion dollars is a shitload of money; it's a one followed by nine zeros: $1,000,000,000.
How many $25,000 jobs can you 'buy' with a billion dollars? $1,000,000,000 / 25,000 = 40,000. So one billion dollars can 'buy' 40,000 $25,000 jobs.
Let's give this a try with some big ticket items.
Here's a $35 billion dollar program that should be rethought: http://www.democraticunderground.com/11783348
35 x 40,000 = 1,400,000
Thirty five billion dollars = 1.4 million ($25k) jobs.
One more: We just floated our newest destroyer, the USS Zumwalt. The cost for this bad boy is $5.6 billion dollars or 7,840,000 ($25k) jobs.
Comments?
Thanks,
unhappycamper
Sherman A1
(38,958 posts)First, one wonders what was wrong with the P3 Orion and why it simply could not be upgraded with a new sensor suite or more efficient power plants or airframes replaced as needed? The aircraft was certainly well tested and able to do the job. But, then it wouldn't be a pretty new jet plane.
Secondly and understand no criticism here, I completely agree with the theme of your post(s) in that this is just another waste of money to the MIC. $25K jobs are a pretty low threshold and doesn't represent a living wage.
lastlib
(24,910 posts)since it divides evenly into a billion. Perhaps 50,000 would work, but only gives you half the number. Or maybe we could do $10,000 for food stamps?
Sherman A1
(38,958 posts)And it's just a number.
panader0
(25,816 posts)orpupilofnature57
(15,472 posts)unhappycamper
(60,364 posts)But the problem is normal people really have a hard time relating to a billion of anything.
RC
(25,592 posts)and Scandinavian countries. And include China and Russia too. That would be telling about how much out of whack this county's priories are.
OK, how about this?
Or this:
World Military Spending
http://www.globalissues.org/article/75/world-military-spending#InContextUSMilitarySpendingVersusRestoftheWorld
orpupilofnature57
(15,472 posts)jtuck004
(15,882 posts)Martin Eden
(13,462 posts)USS Zumwalt = 112,000 teachers.
caraher
(6,308 posts)Your Zumwalt example is way off - that should be 224,000 jobs (5.6 billion/25,000 = 224,000)
And realistically, a $25,000 job worth having (i.e. with benefits) costs an employer a significant amount more than $25k
But in the other direction, not directing federal taxes into money pits like unneeded weapons can produce more jobs than you might calculate by dividing a program cost by the wages an employer may pay. After all, an employer will make more money than they pay a worker (otherwise they'd hire fewer people).
JHB
(37,414 posts)..."Better than Median Income", which is pretty much what you're doing except in increments of $50,000 (better than personal median income. Household median is a little over that, but not by enough to quibble over what is, essentially, a rule of thumb).
As in: "Cindy McCain's earrings have a BMI of 5. Five years of mere-mortal income for a pair of baubles."
another_liberal
(8,821 posts)We have thirty thousand troops there. That equals thirty billion dollars, or one million two hundred thousand $25,000 jobs.
ReRe
(10,780 posts)... $25,000/yr job is not a living wage. Why not jack that figure up to at least $50,000/yr?
For the $35 billion, you could only get 700,000 ($50,000 jobs).
So, how many do we have unemployed at this time? Let's say 5 million.
(5 million jobs x $50,000) = $250 billion
Where's that $250 billion bubble going to come from?
Keep in mind that the jobs would need to be secure jobs that would last, or we would end up in the same mess in the future with millions unemployed.
anasv
(225 posts)The average job costs the employer 2-3 times the salary - the employer's tax for Social Security, insurance premiums for mandatory workers' comp, HR, healthcare if that's provided, space, furniture, computers, lighting, heat, etc.
mazzarro
(3,450 posts)Scuba
(53,475 posts)Plant, computers, etc. are not employee costs.
Augiedog
(2,602 posts)One billion dollars produces at least one billionaire who thinks he is a victim of a holocaust like onslaught by the progressive element of America. Poor him, who could have imagined that a billion dollars could bring such angst to such an admirable example of humanity. Maybe he can sign up for Obamacare and get counseling before his delusion of victimization overwhelms his clearly rational life.
DeSwiss
(27,137 posts)K&R
JP Morgan Chase (JPM)
JP Morgan Chase has a derivative exposure of $70.151 Trillion dollars.
$70 Trillion is roughly the size of the entire world's economy.
The $1 Trillion dollar towers are double-stacked @ 930 feet (248 m).
JP Morgan is rumored to hold 50->80% of the copper market, and manipulated the market by massive purchases. JP Morgan (JPM) is also guilty of manipulating the silver market to make billions. In 2010 JP Morgan had 3 perfect trading quarters and only lost money on 8 days. Lawsuits on home foreclosures have been filed against JP Morgan. Aluminum price is manipulated by JP Morgan through large physical ownership of material and creating bottlenecks during transport. JP Morgan was among the banks involved in the seizure of $620 million in assets for alleged fraud linked to derivatives. JP Morgan got $25 billion taxpayer in bailout money. It has no intention of using the money to lend to customers, but instead will use it to drive out competition. The bank is also the largest owner of BP - the oil spill company. During the oil spill the bank said that the oil spill is good for the economy.
JP Morgan Chase also received a SECRET $391 billion dollar bailout from the Federal Reserve.
In 2012, JP Morgan (JPM) took a $2 billion loss on "Poorly Executed" Derivative Bets.
MORE
toby jo
(1,269 posts)Blanks
(4,835 posts)A keeper - deserving of its own thread. Has a thread been started with a discussion of that link?
DeSwiss
(27,137 posts)...in reference to JP Morgan threads but not as a thread subject itself.
- Be my guest!
CrispyQ
(38,266 posts)Sentath
(2,243 posts)I like this one too http://xkcd.com/980/
CrispyQ
(38,266 posts)Thanks for posting.