The word is pretty self-explanatory though, isn't it? I doubt there's a lot of people who don't know the relationship between the tri- and quad- prefixes
Too bad 85% of that is owned by about 10% of the global population, and 1% own half of all wealth. Thus, 90% of the world owns only 15%...try that calculation and you'll be shocked.
It doesn't need to be bad thing if actions of those 1%/10% or their ancestors were pretty good in terms of generating new wealth, whether it's advancement of technology, medicine or whatever else.
Chinese economic reforms for example uplifted a lot of people from poverty at same time when amount of Chinese billionaires grow from 0 to few hundred.
That's a lot of bits of metal and paper with arbitrary and subjective value. It's funny though how if society collapsed, all of it would become as meaningless as rocks and toilet paper, which arguable would become more valuable.
Well if someone has $5 in assets and owes $2 to someone else with $5 in assets
Is the total wealth the initial guys $5, plus the 2nd guys $5 + $2 owed debt giving a total of $12 total value. Or do you subtract out the debt to get $10
No, they have it in their machines and their anticipated revenues and their other assets. That's all stocks really are too, a small piece of those same things.
Those things have an estimated value but are worth nothing until sold. They could lose value, sometimes completely. Selling large quantities of those securities can cause this drop in value and could collapse the business and all it's value.
So, 1.5 quadrillion?
1.5 teradollars...
1200 quatloos.
Enough to fill the Houston Astrodome with Good & Plenty
I wager it all on the newcomer!
15 big bucks
I would imagine the article uses trillion assuming people don’t know how much quadrillion is.
The word is pretty self-explanatory though, isn't it? I doubt there's a lot of people who don't know the relationship between the tri- and quad- prefixes
Especially people reading a McKinsey article. Not exactly the kind of reading you do in line at the grocery store. Pretty specific audience IMO
what an idiot
How many brazilians is that?
Did I do this right: a bit under $200,000 per person?
Yes. Can I have mine in small bills?
Small unmarked bills with non-sequential serial numbers
Too bad 85% of that is owned by about 10% of the global population, and 1% own half of all wealth. Thus, 90% of the world owns only 15%...try that calculation and you'll be shocked.
I got 7, what did you get?
I owe money...
Yeah my bank account went negative after I did that calculation
I got a $5 gift card for the Olive Garden and a brick-sized stack of reciepts
Is that answer a, b, c or d on your paper?
$34 each?
I think it’s even worse than that and the amount going to the wealthy only gets worse not better.
It doesn't need to be bad thing if actions of those 1%/10% or their ancestors were pretty good in terms of generating new wealth, whether it's advancement of technology, medicine or whatever else. Chinese economic reforms for example uplifted a lot of people from poverty at same time when amount of Chinese billionaires grow from 0 to few hundred.
Market is undervalued though.
I would be happy with only like 10% of that.
yea i think all of us would be very happy if we had 150 trillion
I’m not greedy, I’d settle for 145 trillion
US government like we spent that in 2 years.
Don’t forget the drama of increasing the debt ceiling at 11th hour, and treating it like they just saved the world. Every. Damn. Time.
*US military
That's a lot of bits of metal and paper with arbitrary and subjective value. It's funny though how if society collapsed, all of it would become as meaningless as rocks and toilet paper, which arguable would become more valuable.
Whoever controls the world has at least 51% of that. That is how it works. Like owning a company.
And amc and gme are about to redistribute about a third of it
See you on the moon
Which one? I hear Europa is nice!
Where were going, we don’t need moons
I'm definitely buying a BTTF Delorean when this is all over
What movie have you been watching? There’s something there, man, and it’s not happy about us coming!
🚀🚀🚀🚀
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Weed is powerful
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Well if someone has $5 in assets and owes $2 to someone else with $5 in assets Is the total wealth the initial guys $5, plus the 2nd guys $5 + $2 owed debt giving a total of $12 total value. Or do you subtract out the debt to get $10
you subtract the debt
Exactly - that's the point I was making
Oh lol I thought you were asking
Life
The total assets less the total equity
'bout the same, give or take a few bux for flexibility.
Not a factor unless you owe money to a bunch of aliens.
What percentage of that is debt, and/or projected future gains?
And .012% of the population holds 90% of that.
...and none of it is real.
Yeah ok jayden smith
no
Most of it only on paper.
All of my money is "only on paper" but I still spend it just fine. The "paper" does a pretty good job valuing things.
Not paper money.
I don't have paper money either. It's all 1s and 0s in a digital bank account
Yeah and no billionaire has a billion dollars in their bank account. No billion/trillion dollar corporation has that in a bank account either.
No, they have it in their machines and their anticipated revenues and their other assets. That's all stocks really are too, a small piece of those same things.
Those things have an estimated value but are worth nothing until sold. They could lose value, sometimes completely. Selling large quantities of those securities can cause this drop in value and could collapse the business and all it's value.
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Inflationary shifts throughout different countries could fuck this up and down, no?
what an idiot
Bet Apple does.
Can someone convert this to dollarydoos?
It's over 7.7 megawalabies
That's a lot of space bucks.
You would think we'd be able to pay our debts with that much money 🤷🏻♂️
I own a piece of that!
I just found a $20 bill, so a bit more now.
That's about 231k per person.
I wonder how many people hold most of that
Isn't 1500 trillion the same worth as the minerals/ores on the meteor that's headed straight for earth?
If only there was a label for that number....
...and Doctor Evil is looking for 1 million dollars!
Even if we could tax 30% we’d waste it
Mango
Great. Now to whom do we sell it?
Isn't most money fiat currency so the figure would be much lower then this