How much is 100 billion?

[Wind30]

I have read many many times that human life trumps everything in many Covid19 discussion.

Personally, I don't think so. To me, there is always a limit to how much economic pain, in terms of dollars before it does not make sense to save that one more life.

I just want to put some numbers out there. We have almost used close to 100billion for Covid related expenses.

What does 100 billion equal to????

Let me put some numbers. Our average annual income is slightly less than 70k. Assuming we work from 25 to 65, that is 40 years. So that is 2.8million per person. Assuming he works as a slave and does not consume ANYTHING for his master, he will average 2.8million in his lifetime. 

so many slaves do we need to make 100 billion? 35000 slaves...  

I am not saying a human life is work 2.8million dollars because it isn't. I am just trying to get a feel of how much is 100 billion. 

[Cheesey74]

Imho.. All life is precious n all human life (except for scum like murderer or rapist) is priceless.

[Soya]

$100B to different ppl mean different things

To someone who lost a loved one to covid, $100B is a small price

To most of us, $100B is so big that even our calculator doesn't have enough zeros to count

For T2, that's what he pays his maid

 

[Carbon82]

Let me share a monetary riddle.

It’s a slow day in some little town. The sun is hot, the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.

On this particular day a rich tourist from back west is driving thru town. He stops at the motel and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs in order to pick one to spend the night.

As soon as the man walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill at the feed store.

The guy at the Farmer’s Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her services on credit.

She, in a flash rushes to the motel and pays off her room bill with the motel owner.

The motel proprietor now places the $100 back on the counter so the rich traveler will not suspect anything.

At that moment the traveler comes down the stairs, picks up the $100 bill, states that the rooms are not satisfactory, pockets the money & leaves.

NOW,… no one produced anything…and no one earned anything…however the whole town is out of debt and is looking to the future with much optimism.

OK, back to the $100 billions question. It is not just about saving lives, in fact I would estimate the amount spent on saving lives (including setting up community care facility) is <20%, BUT more to prevent a total collapse of our economy.

Picture this: With no tourist spending, a large faction of the service industry have been facing financial difficulties, and if the government do not take some financial burden off their shoulder, there would be a ripple effect down the whole supply chain.

Many companies would fold -> hundreds of thousand would loss their job -> massive reduction in spending -> deeper recession -> etc. etc.

Bulk of this $100B will eventually flow back into the government coffer if you look at it from an economic perspective, just like the riddle I shared above. If you relate the town to Singapore economy, then the rich tourist (government) has temporarily increased the town’s (Singapore) money stock by $100. In effect, he has made a short-term loan of a new $100 bill, increasing liquidity. The $100 provides the residents with a medium of exchange that allows them to clear their offsetting debts.

[Watwheels]

If 100billion is divided by the number of citizens in sgp(about 3.5mil), that's around 28,000 plus. Not even one year's of salary. Cheap.😂

Enough to buy COE or not huh?

Maybe I should also search for the definition of a "crisis" too since the money is not spent for recreational purpose.

Edited May 29, 2020 by Watwheels

[Throttle2]

56 minutes ago, Soya said:

$100B to different ppl mean different things

To someone who lost a loved one to covid, $100B is a small price

To most of us, $100B is so big that even our calculator doesn't have enough zeros to count

For T2, that's what he pays his maid

 

Dont anyhow say.

for $1B , i be your maid also can

Dont say $100bil leh.

Edited May 29, 2020 by Throttle2

[Inlinefour]

 

wanna buy?

[Scion]

54 minutes ago, Carbon82 said:

Let me share a monetary riddle.

It’s a slow day in some little town. The sun is hot, the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.

On this particular day a rich tourist from back west is driving thru town. He stops at the motel and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs in order to pick one to spend the night.

As soon as the man walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill at the feed store.

The guy at the Farmer’s Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her services on credit.

She, in a flash rushes to the motel and pays off her room bill with the motel owner.

The motel proprietor now places the $100 back on the counter so the rich traveler will not suspect anything.

At that moment the traveler comes down the stairs, picks up the $100 bill, states that the rooms are not satisfactory, pockets the money & leaves.

NOW,… no one produced anything…and no one earned anything…however the whole town is out of debt and is looking to the future with much optimism.

OK, back to the $100 billions question. It is not just about saving lives, in fact I would estimate the amount spent on saving lives (including setting up community care facility) is <20%, BUT more to prevent a total collapse of our economy.

Picture this: With no tourist spending, a large faction of the service industry have been facing financial difficulties, and if the government do not take some financial burden off their shoulder, there would be a ripple effect down the whole supply chain.

Many companies would fold -> hundreds of thousand would loss their job -> massive reduction in spending -> deeper recession -> etc. etc.

Bulk of this $100B will eventually flow back into the government coffer if you look at it from an economic perspective, just like the riddle I shared above. If you relate the town to a Singapore economy, then the rich tourist (government) has temporarily increased the town’s (Singapore) money stock by $100. In effect, he has made a short-term loan of a new $100 bill, increasing liquidity. The $100 provides the residents with a medium of exchange that allows them to clear their offsetting debts.

interesting story, but perhaps way too simplify for the representation of global or even Singapore economy

not taking interest rates (for the loans), inflation/depreciation (of assets) into consideration...

the number of people linked to each other (the more people there are, the bigger the network, the higher chance things will go wrong... eg more people will default payments, and lead to snowballing effect)

just my thought (not finance expert)

[ToyotaShuttle]

Are we spending 100b on covid? Where is this number from and what does it include?

[Windwaver]

We need 50 years to recover 100 billion.

 

[Genes]

17 minutes ago, Windwaver said:

We need 50 years to recover 100 billion.

 

By some accounts, 50 years very fast one

[Freeder]

For @Angcheek Piak piak also not enough..

[Wind30]

39 minutes ago, ToyotaShuttle said:

Are we spending 100b on covid? Where is this number from and what does it include?

Straits times

https://www.straitstimes.com/politics/parliament-33-billion-set-aside-in-fortitude-budget-bringing-covid-19-war-chest-to-nearly

[Showster]

2 hours ago, Watwheels said:

If 100billion is divided by the number of citizens in sgp(about 3.5mil), that's around 28,000 plus. Not even one year's of salary. Cheap.😂

Enough to buy COE or not huh?

Maybe I should also search for the definition of a "crisis" too since the money is not spent for recreational purpose.

I believe your calculator is more accurate. Probably equates to $30,000 -$50,000 per working citizen.

[Inlinefour]

5 minutes ago, Showster said:

I believe your calculator is more accurate. Probably equates to $30,000 -$50,000 per working citizen.

if they distribute this way then nobody will Cry Pa Cry Ma for 600 

 

but end of the day only about half used up cos many Sinkies not qualified 

[Soya]

1 hour ago, Inlinefour said:

 

Wah sei....T2's maid from Zimbabwe ah?

 

[RadX]

Just now, Soya said:

Wah sei....T2's maid from Zimbabwe ah?

 

She talk liddis

[Inlinefour]

19 minutes ago, Soya said:

Wah sei....T2's maid from Zimbabwe ah?

 

hearsay his helper multi zillionaire but not sure she from where one 🤑