Thursday, January 31, 2013

The one advantage of huge debt

No more confusion in European press about billions and trillions.

You need to take our word on this one. We had to talk to someone best referred to as "old person" (OP).

OP has the advantage of being German and old enough to remember times when numbers for budgets, company revenue, and debts were so much smaller that a few billions in US dollars was as big as they got.

OP clearly remembers German newspaper articles where they incorrectly talked of "Billionen" in some report about American numbers. German "Billionen" are American trillions.

Such mistakes were not very common but they existed. In recent years, with the Big Numbers, all that has changed. OP says he has not seen any such mishaps for a long time.

So, even if we go bankrupt, at least we will do so knowing our numbers.


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