Thursday, July 30, 2009

Telling time in $$$'s

My brother Bernell shared the following US Debt clock with me. I felt it was certainly worth sharing. To get the actual, real time clock move your cursor over US Debt clock and left click.

You will notice on the real time clock that many of the numbers change and additional charts and numbers are available.

Some people are skeptical about such clocks, dismissing them with the comment, "they can't possibly know what those numbers are every second or even between the seconds." That is correct. of course. But by making assumptions of even growth over certain time periods and making other assumptions of cause and effect, scientists can simulate the growth in certain areas. I once prepared a presentation on company expenditures that got right down to the number of staples used per hour. I didn't count the staples but I did summarize the invoices over a year's period which gave me boxes of staples per year (Note an assumption here that we started and ended the year with thte same number of staples in our desks and storerooms.) To get the number of staples used per second I then simply multiply the boxes by 5,000 staples per box and divide that result by 31,536,000 seconds per year. The final result is the amount I needed to increase my staple count every second.

The Debt Clock is much more sophisticated as some numbers are derived from formulas going up and others going down. That leads me to believe the clock is probably correct or at least using more complicated.


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