Trillions
Sometimes it’s hard to think about the economy because it’s just so damn big. A billion here, a billion there, who cares? Real sums of money are measured in trillions.
Think about it - say there are 300 million people in the US. A trillion dollars is about $10 per person per day. So lunch in Palo Alto every day for a year for every one in the US. Got it? Okay. Here are some interesting amounts of money:
Measures of production (annual)
- US GDP - $14trillion ($140/person per day)
- US Industrial output - $3 trillion ($30/day)
- US Imports - $2.3 trillion ($23/day)
- US Exports - $1.6 trillion ($16/day)
- Global Oil production - 31bil barrels - $3.1trillion - ($31/day)
- US Oil consumption - $0.9trillion ($9/day)
- US Oil production - $0.3trillion ($3/day)
- US Govt Spending - $2.7 trillion ($27/day)
- US Military Spending - $0.6 trillion ($6/day)
Stores of Value
- US Stock Market Cap - $17 trillion ($56k/person and falling)
- US Govt Debt - $6trillion ($20k/person and rising)
- US Mortgage Debt - $10 trillion ($33k/person)
- US Oil Reserves - 20bil barrels - $2.4trillion ($8k/person)
- Candian Oil Reserves - 170bil barrels - $20 trillion ($66k/person)
- Iranian Oil Reserves - 105bil barrels - $12 trillion ($40k/person)