Tag Archives: bankruptcy

Give or Take a Trillion

By Jim Selman | Bio

I confess to be among those who have some difficulty getting my head around how much a trillion dollars is. I can remember a book I read to my daughter called How Much is a Billion that was filled with mind-boggling examples, including things like the number of seconds that have passed since Jesus was born. The Huffington Post has a fun video clip visualizing a trillion using the same kinds of illuminating examples, such as a trillion dollars is enough to buy a Starbucks Latte every day for the next 900 million years. The only problem with these kinds of illustrations is that I can’t get my head around 900 million years either, let alone roughly 3 billion lattes.

The punch line of this little clip is that as big as a trillion is (what some suggest is becoming the ‘new billion’), the current bailout is 10 times bigger. Can you imagine how big a zillion must be? It seems to me that when we enter the realm of staggering numbers that are beyond comprehension such as these, money stops meaning anything. This could be a good thing, since when we exceed the limits of what we can comprehend we often transform our relationship to

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Vanishing Pensions

By Jim Selman | Bio

I have had several conversations with friends in Buenos Aires about how people deal with their financial security in their older years. To my surprise, the uniform answer is that they mostly don’t. Then I hear a story which, by my naïve North American standards is shocking, but whhich reveals something important for all of us as we contemplate our own future and worry about the uncertainties in the financial markets.

The story goes like this. Prior to 1994, all pensions in

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