So people aren’t getting so angry at everything out of ignorance, over at PJM I breakdown how AIG is spending the $170 billion the federal government gave them.
So people aren’t getting so angry at everything out of ignorance, over at PJM I breakdown how AIG is spending the $170 billion the federal government gave them.
Just a note to say that when I clicked the link I went to the second page of the article. Not sure if that can or needs fixing. But good stuff as always Frank.
“…standard procedure when dealing with that much money is to move it around in dump trucks.”
(schnorkel)
Something to ruin your day:
I checked the price of gold this morning. It was $951.80 per troy ounce.
You know those gold bricks you see in the movies? They’re called “London” bricks and they’re 200mm long, 90mm wide and 45mm tall and consist of 400 troy ounces of Gold.
Then I checked the national debt.
At 07:17:00 this morning (pacific time) the national debt was $11,040,559,441,396.49
So…
With the amount of gold it would take to pay off the national debt today you could:
A. Lay “London” gold bricks end-to-end from Dover, Delaware to London England
or
B. Stack gold bricks one on top of another 810 miles straight up. Note that the shuttle mission which placed the Hubble Space Telescope into orbit reached an altitude of 385 miles. This was the STS-31R mission, launched on April 24, 1990. This mission apparently holds the record for the highest altitude for a space shuttle. Which means this stack of gold bricks would be over twice as high as the highest space shuttle orbit in history!
I dunno.. I can;t get too worked up about the 170 billion when Obama is quadrupling the deficit and has already spent over a trillion dollars in his first 60 days. Now THAT is something to get worked up about!
I noticed that one of the commenters of Frank’s article at Pajama’s referred to him as Mr. Fleming! Now that is something to get worked up about!
How to spend $170 billion — Ant farms
Come on Mr. and Mrs. Middleclass Taxpayer, what’s all the fuss about? As middle class American tax payers aren’t you used to getting ripped off and screwed over by now? After all it’s not like it’s the first time you’ve gotten shafted by the politicians and you can bet your ass it won’t be the last. Let’s face it you’re the most ripped off taxpayer on the face of the earth and have been for the last several decades. So just do like you’ve always done (that which the politicians have come to expect) shut your mouth, quiet your complaints, and just bend over a little bit further. spread ‘um a little wider, and ask for more! Remember, to the politicians, especially the ones who want you to pick up the tab for all of their do gooder, pie in the sky plans and schemes, you’re nothing more than a walking dollar sign who still has a pocket or two that can be picked clean. So Mr. and Mrs. Middle Class taxpayer the next time you see one of those commercials on your TV that asks the question, “What’s in your wallet?” You can proudly exclaim, “Not a f**king thing……..I’m a middle class American taxpayer!”
If I said I had anything in my wallet Obama would come and take it and hold me upside down and shake out my loose change and then give it to all his stupid, stinking, liberal, socialist, hippy, pinko commie friends and that would suck cause he already spent enough of the tax payers money on his stupid, stinking, liberal, socialist, hippy, pinko commie friends…..
#3 – Browncoatone,
Does that much gold physically exist in the world?
I mean, has that much gold been mined, cast and stored in one form or another somewhere, anywhere, in the world, from the dawn of civilization until now?
Or have we gone way beyond physically measurable debt into pure Douglas Adams Hyper-Debt?
By my calculations, at current prices, 11 trillion dollars in gold bars would make a block 100 feet wide, 100 feet long, and 64.5 feet tall and weigh over 300,000 tons.
King Nebuchadnezzar’s image of gold was only 6 cubits by 60 cubits, or approximately 7,290 cubic feet. (the piker!)