Real Estate Blog - To Put Things in Perspective

Home : Blogs : Myrl Jeffcoat : Myrl Jeffcoat - Greater Sacramento Realtor - (916) 635-0420

To Put Things in Perspective

Awhile back, I watched a travel documentary, which spoke about the California Gold Rush, and the Nevada Comstock Load. According to what was presented, in TODAY'S dollars, the gold taken from the California Mother Lode would be worth approximately $13 billion, and the silver extracted from the Nevada Comstock would fetch $6 billion.

Consider for a moment, the government bailout of AIG has been $180 billion

That's multiple times more than the entire COMBINED current value of the gold and silver taken from the California Gold Rush, and the Nevada Silver Comstock.

It certainly puts into perspective the value of things, and adds new dimension to the term, "Too big to fail." Pretty amazing isn't it!

Posted by Myrl Jeffcoat on 11/10/2009 07:52 PM

Comments (17)

Perspective on AIG Bailout Cost in the ActiveRain Channel

sacramento real estate news, comstock load, nevada silver, aig bailout, california gold rush

Post is included in group: "Whacked"!!!
Post is included in group: The Vent
Post is included in group: The Lounge at Active Rain
Post is included in group: Club Chaos
Post is included in group: Around The Water Cooler

17 Comments on To Put Things in Perspective

NOV

That is big. The companies have gotten huge. And there are so many of them that are that size

Hi Myrl,

Thank you for sharing an informative and helpful article.

John Pusa

Hi Myrl, The amount of money is just mid boggling -- Speaking of the "olden days", sometimes I think I would like to go back there! I have a feeling that more things made sense, then.

Myrl - A billion is only "chump change" today. For politicians a trillion is the new billion : )

I knew it was a lot...this really puts it in perspective...

Myrl,

Great post. Love the analogy. Thanks for taking the time to research this and post it. :)

Steve

Russ - I agree they have gotten huge. But in the case of many they are only worth that on paper. When the paper is leveraged 10 cents on the dollar, but the taxpayer is paying the value of the original paper it makes you wonder what they are ACTUALLY worth!

John P. - You're very welcome!

Mary - I couldn't wrap my brain around the cost of the AIG bailout, until I compared it to the analogy of the Nevada Silver Comstock load, and the California Gold Rush. It blew me away!

John M. - But don't you love the way politicians can toss those numbers around like they are nothing! It kind of makes you wonder how much they are REALLY getting from the lobbyists and special interests.

John O - The analogy does help with perspective . . .but it's still mind boggling!

Steve - I'm glad you liked it! And you're very welcome!

Hi Myrl, if as they say, 50 is the new 40 then why not a billion be the new million. But I will say , the numbers are startling. I wonder if there is any more gold in them thar hills? We could certainly use some.

Many can't see the connection. AIG then gave the largest bonus up till the latest round of wall street bonus frenzy...
Your friend south of Seattle,
Paul

Myrl, Talk about interesting facts to read on AR -- or anywhere else -- I was shocked at the amounts you listed! Comparing them makes it more frightening then it already was!

I'm not sure how we got into this mess but spending that kind of money may not be the best plan.

NOV

ToulaRosebrock,com

Hi Myrl:

That's amazing...

Talk about putting things into perspective!!!

Myrl, it sure puts things into perspective. Unfortunately, many of our elected representatives learn that you get re-elected by playing "Santa Claus"; we are responisble for that to a large degree!

I like your choice of the photo-the dog with the prospector!!!(man's faithful companion)

Hi Myrl,

Yes, as you say, it is pretty amazing. I have to confess I'm getting a little mind boggled by all the zeros we talk about nowadays. It's not just millions and billions....... but trillions!! What comes next after a trillion??? A quadrillion perhaps?

Steve

All the money...for what? When they keep paying themselves all these bonuses and whine about how the "government" keeps interfering...hmmm.

ARRGH! Now, I'm TOTALLY depressed for my boys who, along with their children and their children's children will have to pay this insurmountable amount BACK! Interesting comparison, Myrl!

NOV

Myrl

What a good comparison . Plus I learned something. I always wondered about the quantities.

This blog does not allow anonymous comments