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Preet Banerjee, B.Sc., FMA, DMS is a former stockbroker and financial advisor in Toronto. Information on this site is for entertainment purposes ONLY. Always seek individual professional advice before making any financial decisions.

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$700,000,000,000

October 2nd, 2008 • Related • Filed Under
                                                         
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A person earning $35,000 per year would need 20 million years to earn $700 Billion.

$700 Billion would effectively wipe out Canada’s national debt (and then some).

$700 Billion could provide universal healthcare in the US for those without coverage (most).

$700 Billion is more than the cost of the Vietnam war.

$700 Billion would buy 233,333 super bowl ads.

$700 Billion would be 100 times more than what has been spent to upgrade the coastal levees in response to Hurricane Katrina.

$700 Billion would pay off all the student loans in North America.

$700 Billion could buy every Canadian a brand new compact car.

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There Are 8 Responses So Far. »

  1. Comment by Xenko on 2 October 2008:

    I’ve always wondered what would happen if Canada ever managed to wipe out the national debt in one big swoop. How much money would it free up? What impacts would it have on our economy or government operations?

  2. Comment by moneygardener on 2 October 2008:

    Yes, but will it fix the credit crisis?

  3. Comment by Deb on 2 October 2008:

    Hi Preet, here’s a suggestion for a future article… I’m hearing lots of talk about inflation, deflation, stagflation. How about an article explaining these and also, how it is possible to have a recession and inflation at the same time. Thanks, Deb

  4. Comment by Deb on 2 October 2008:

    Whoops…forgot to add hyper-inflation!

  5. Pingback by A Lap Of The Blogs : WhereDoesAllMyMoneyGo.com on 3 October 2008:

    [...] I would like to remind you that $700 Billion could buy every Canadian a brand new compact car. [...]

  6. Pingback by Canadian Personal Finance Blog » Blog Archive » Random Thoughts: Is this the End? on 3 October 2008:

    [...] at Where Does All My Money Go points out The Many Uses of $7 Billion, what kind of compact car would I [...]

  7. Comment by Preet on 3 October 2008:

    @Moneygardener – I doubt it. Reverting from the marked-to-market accounting, higher regulation of the mortgage industry and recovery of real estate values will lead to the natural end of the credit crisis I would think – more so than the $700 billion bandaid. They could mandate that all banks operate as deposit takers as well, and hold them to the same regulations as up here – seems to have served us well.

  8. Comment by Preet on 3 October 2008:

    @Deb – ask and ye shall receive. I hope to pen something for next week on those topics – thanks for the idea!

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