980: Money/Transcript

• Below is the complete transcript for 980: Money.
  • (Or so it will be - once someone finishes it).
• The transcript on the main page, has been assigned to just state the entire text from the first panel and then only what is visible in the small version of the image for the other five panel - that is their headings.
• This transcript tries to give a full transcript of this huge version of the comic.
• To be able to link to this transcript from the explain section, each of the five main headings will have a sub section heading, and each sub heading within these another sub sub section heading for this purpose.

Money

[Title panel at the top left]

Money

A chart of

almost

all of it,

where it is, and

what it can do

[Almost is written in a very small font compared to the rest]

[There are 5 large panels below the title panel, each with a series of plots, comparing the values of various things. Each large panel is covered in colored squares, and each single square represents a power of ten (10^(3*n) for n = 0, 1, 2, 3, 4), be it single dollars, thousands of dollars, or even trillions of dollars. Below is a section for each of these panels]

[Many of the items in each panel have been grouped in small or large groups - some clearly divided - maybe in a frame, or at least with a clear title. But many others are just grouped together. Below in each panels section all these groups are listed as best as possible starting from the top left going towards the bottom right (the first text in a group defines the order). Within the groups the individual items are listed similarly although it they are listen in columns/rows this will be used as well. If there is a heading for a group this will be used as the title for the subsection - else the first item in the group becomes the title. In groups with a title, items that are on the list, will be indented to show where they belong. Similar if there are sub text to a given item - then this text will also be indented. If there is a title, then this will be written in bold letters in the transcript.]

Dollars

Completed on 2014-06-07

[This section is right below the title panel at the top left - it covers the price of a single coffees up to the hourly salaries of CEOs.]

Dollars

Important notes

[There is a box with a note next to the title. The first line of text is written in a dark orange color - the same color as the frame of the box. It is the only text that is not black - apart from the white on black background for the main panels title.]

Important notes:

This chart is entirely in 2011 dollars.

Every value associated with a year before 2011 was adjusted for inflation using the consumer Price Index.

Nearly every amount has a cited source - when possible,

a scholarly work or government publication. A list of

sources is available at http://xkcd.com/980/sources/

[The rest of this panel shows how much the individual items values compare to a single dollar. Next to each price in dollar will be drawn a number of green squares equal to this amount - so for the 1 dollar bill there is 1 square, and for the 1000 dollar bill 1000 squares.]

$1 bill

$1 bill

$10 bill

Apples (one dozen) $5.68

Dollar Menu item $1.00

Daily interest on average credit card debt ($9,840) $5.63

Starbucks Coffee $2.00

Average single US restaurant meal

[These items are singled out as they are framed by a light green square with rounded corners]

Average single US restaurant meal $35.65

Average meal at the 20 costliest San Francisco restaurants $85.27

Game consoles

Game consoles

PS3 $250

Xbox 360 $200

Wii $150

Dinner for four

[These items are singled out as they are framed by a light green square with rounded corners]

Dinner for four

(Lighter blocks show value of time required using median US wage of $16.27/hour)

Homemade rice and pinto beans $9.26 (With time cost of two hours of shopping, travel, prep and cleanup: $41.80)

Homemade chicken dinner $13.78 (With time cost of two hours of shopping, travel, prep and cleanup: $46.32)

McDonalds $27.89 (With time cost of 30 minutes travel: $36.03)

Arby’s $34.00 (With time cost of 30 minutes travel: $42.13)

Chili’s $69.64 (With time cost of 30 minutes travel: $77.78)

Outback Steakhouse $109.82 (With time cost of 30 minutes travel: $117.96)

Loose change value per pound

Loose change value per pound $12.80

Loose change with no quarters $5.40

Annual value of pennies received in change (at one daily cash purchase) $7.30

Loose change with no pennies $17.40

Median household daily income

Median household daily income $136.28

[The heading stands to the right of the block of squares. The first third of the blocks are a darker green. The two parts of the blocks are labeled]

Taxes $32.16

After-tax $104.12

$1000 bill

$1000 bill (Grover Cleveland, discontinued)

$500 bill (William McKinley, discontinued)

Paperback book

Paperback book $6.80

Hardcover book $32.27

Audio book $50.42

Kindle $79.00

New video game $49.99

Traditional cell phone average monthly fee $77.36

Smartphone average monthly fee $110.30

Kindle keyboard + 3G $139

One-gallon jug of loose change

One-gallon jug of loose change $270

Pet ownership

[These items are singled out as they are framed by a light green square with rounded corners]

Pet ownership

ASPCA estiamtes

Annual cost of rabbit ownership $730

Annual cost of dog ownership $695

Annual cost of cat ownership $670

Annual cost of fish ownership $35

Annual cost of bird ownership $200

Annual cost of small mammal ownership $300

Kindle Fire

Kindle Fire $199

Men’s suit $400

Low-end bicycle $190

Basic iPad $499

iPad+3G+ a year of data $869

Basic Macbook Air $999

Netbook $249.99

iPod Nano $129

Mac Mini $599

Comcast cable internet for a year ($59.99/month) $719.88

Traditional cell phone average annual bill

Traditional cell phone average annual bill $928.30

Smartphone average annual bill $1,320

Worker/CEO comparison

[These items are singled out as they are framed in together]

Worker/CEO comparison

1965 production worker average hourly wage $19.61

2007 production worker average hourly wage $19.71

Typical 1965 CEO pay for the same period $490.31

Typical 2007 CEO pay for the same period $5419.97

Thousands

Complete on 2014-06-13

[This section is directly below the Dollars section – it discusses values from around $1000 to $1,000,000, including a dissection of the song If I had $1000000.]

Thousands

[The Dollars section is zoomed down so the area is only 1/1000 of the size and is shown at the top of the Thousands section with lines indicating this zoom]

[The rest of this panel shows how much the individual items values compare to thousand dollars. Next to each price in dollar will be drawn a number of orange squares equal to the number of thousand dollars in the amount - so for a 1000 dollar item there will be one square. And for a small house at a price of $100,000 there will be 100 squares.]

Typical household net worth by head of household’s age

[These items are singled out as they are in a frame.]

Typical household net worth by head of household’s age

[There is two columns of blocks across from each other, with these headings:]

…in 1984 …in 2009

[On each side of two columns are given the values. In between the columns are written the age range:]

$11,680 <35 years $3,710

$72,090 35-44 years $40,140

$115,060 45-54 years $103,040

$149,240 55-64 years $164,270

$122,100 >65 years $172,820

One thousand dollars

[Inside a frame there are a block of 1000 thousand green squares set to equal (=) one orange square to indicate the size of an orange square]

=

One thousand dollars $1,000

Raising a child to age 17

[The title of this next item is below the block – the indications are shown from top to bottom, with lines indicating low and mid income, and the squares between low and high income are drawn in a lighter color]

Raising a child to age 17

Upper income $302,860

Middle income $206,920

Lower income $206,920

Vacation package from New England

[The title line of text is written below the next line of text which is also below the blocks – there is a bracket between the title and this other line:]

Vacation package from New England

All-inclusive one-week trip for two to St. Lucia resort (incl. flights) $3,204

Twenty week-long Hawaiian vacations $136,020

[The title line of text is written below these next two lines of text – these are again below each of the two sets of blocks – there is a bracket between the title and the other text]

Typical trip from US west coast

Typical week-long Hawaii trip for two (incl. flights) $6,801

Typical weekend Hawaii trip for two (incl. flights) $2,863

Cancer treatment including chemo

Cancer treatment including chemo $117,260

Estimated one-year Hogwarts cost (incl. tuition) $43,000

Seven-year Hogwarts degree $301,000

Average community college tuition $10,340 One year $2,580

Average in-state university tuition $28,920 One year $7,230

Golden Opulence ice cream sundae

Golden Opulence ice cream sundae $1,000

Average smartphone annual cost $1.320

Average used car $8,910

Average new car $27,230

High-end bicycle $1,500

One Starbucks latte per day $1.820

United States 2005 per capita income

United States 2005 per capita income $32,360

Switzerland 2005 per capita income $29,910

Germany 2005 per capita income $27,550

UK 2005 per capita income $23,240

France 2005 per capita income $16,400

China 2005 per capita income $3,540

Brazil 2005 per capita income $5,540

Small rural house

Small rural house $100,000

Typical new home $224,910

Daily sales of Minecraft $193,500

Average individual health insurance annual premium

Average individual health insurance annual premium $5,430

[The five blocks of this item are divided with the top four in lighter color and brackets indicate each group and are named]

Employer

Employee

Typing F-U-N-D-S $10,000

A daily pack of cigarettes for a year (NJ) $3,050

Waist deep half-room ball pit $2,400

All 30 bestselling game consoles (refurb, eBay) $2,640

Annual cost of car ownership

Annual cost of car ownership $3,650

[The title of this next item is below the blocks. These are divided in two, with the last two of the six blocks drawn in a lighter color. Lines go from each part with labels above the blocks]

Typical annual household spending $5,650

Home

Restaurants

Average household CC debt $9,960

Annual cost to carry that debt $2,090

Typical annual housing cost for various cities

[These items are singled out as they are in a frame.]

Typical annual housing cost for various cities

based on military's Basic Allowance for Housing for an E1 servicemember with no dependents

NYC $25,416

San Francisco $21,888

Boston $18,216

Los Angeles $17,640

DC $16,380

Chicago $13,664

Worcester $12,456

Houston $11,888

Minneapolis $10,908

Detroit $10,080

Salt Lake City $9,108

Scranton $8,60

Initial seat on Virgin Galactic suborbital flight

Initial seat on Virgin Galactic suborbital flight $200,000

Prince William and Kate Middleton’s wedding cake $78,000

Kate Middleton’s wedding dress $350,000

Flower cost for Prince William and Kate Middleton’s wedding $800,000

Value of an investment

[These items are singled out as they are in a frame.]

Value of an investment of $1,000/year

(Not changing with inflation) for 30 years at 5% annual interest:

[There is 30 block in three rows of ten from 1 to 30 years. The increasing investment is shown in the normal color, but the interest (when above $500) is shown in a brown color. Except for the last after 30 years – see below. There is also two additional blocks shown to the right – see below.]

1 year $1,000

5 years $5,526

10 years $12,850

15 years $21,580

20 years $33,070

25 years $47,730

30 years $66,440

[Right of the 30 years blocks are two brackets marking the top and the bottom half. The blocks in the top part are grey – this represents those that would have been brown for the other 29 years. Then there are three light orange in the middle, and the rest is the normal color. These squares are the $30,000 invested. The top part including the three light squares are labeled together as are the bottom orange squares:]

Cost of 3% inflation

Real value $27,370

[There are two blocks to the right of these 30 blocks. The top has 30 orange and 26 brown squares]

$1,000/yr for 30 years (inflation-adjusted) at a 4% real return (long-term stock + dividend average) $56,080

[The bottom block has 30 squares, only 12 orange the rest is drawn in the light color also used for the middle blocks for the 30 years blocks]

$30,000 saved in a mattress for 30 years.

[A bracket indicate the bottom orange squares]

Real value $12,360

[Below is the following note in light grey text]

Note: the reason the investment appears to lose ground against inflation is that only a portion of the $30,000 is earning interest in a given year, but the entire amount is effectively suffering from deflation. If the money were all invested from the start, it would earn a constant 5%-3%=2% return and beat inflation handily.

Total cost to buy and own selected vehicles for five years

[These items are singled out as they are framed by a light orange square with rounded corners]

Total cost to buy and own selected vehicles for five years

(Lighter blocks shown fuel cost, assuming 15,000 miles/year)

Honda Insight $27,874

Jeep Patriot $35,425

BMW Z4 $61,312

Toyota Camry $34,697

Honda CR-V $35,183

Hyundai Sonata $34,644

Nissan Cube $29,383

Toyota Prius $38,771

Honda Fit $28,745

Ford Explorer $43,524

smart for two $29,629

Chevy Volt $42,180

[For the Chevy squares the last ones to the right are light green and they are marked with a bracket labeled:]

Tax credit

Ford F-150 $48,734

Porsche 911 $91,590

[The next section inside the orange frame is singled out in another black frame:]

If gas were $10/gallon:

Toyota Prius $48,990

Honda Fit $45,233

Ford Explorer $69,076

smart for two $45,058

Chevy Volt $50,612

[For the Chevy squares the last ones to the right are light green and they are marked with a bracket labeled:]

Tax credit

Ford F-150 $77,111

Typical annual household income

[These items are singled out as they are in a frame]

Typical annual household income

Bottom 20% $10,200

Second 20% $24,800

Middle 20% $44,400

Fourth 20% $76,100

Top 10% $201,100

Top 1% $822,000

Top 1/500th $2,080,000

Median US household income

Median US household income $51,270

Cost per household served of US Rural Utilities Service program to expand broadband access $359,790

If I Had $1000000

[These first six items are singled out as they are framed by a light orange square with rounded corners]

Cost of the items the singer in “If I Had $1000000” would buy you in order to win your love $263,330

Furniture $21,160

Plymouth Reliant $3,000

Tree fort $2,120

Joseph Merrick’s remains N/A

(Held in Royal London Hospital collection and not available for purchase)

House $224,820

[The rest of the items are located in a small square with green inside. This square is zoomed up 1000 times and the items in this large white frame (that breaks the border of the original frame) are given with the green one dollar squares from the dollar section:]

Tiny fridge $99.08

Gourmet pre-wrapped sausages (2) $34.48

Kraft Dinner (two double servings) $3.06

Expensive ketchup $10.75

Faux fur coat $198.00

Limo ride to the store $186.59

Total lifetime income

Total lifetime income from age 25-65 at $50,000/year after 25% taxes (including Social Security) $1,500,000

Millions

[This section focuses on $1,000,000 to $1,000,000,000, with a large section on campaign contributions of American political presidential campaigns, values of expensive works of art, and J. K. Rowling.]

Billions

[This section gets into larger scale finances, profits of various sectors, costs of natural disasters, and net worth of the richest people on the planet. Also, Donald Trump.]

Trillions

[This section is below the Billions section to the right of the Millions section – Global financial status is described here. It discusses derivatives, liquid assets, public debt by nation and GDP by continent, culminating with the total economic production of the human race to date.]

Trillions

[The Billions section is zoomed down so the area is only 1/1000 of the size and is shown at the top of the Trillions section with lines indicating this zoom]

[The rest of this panel shows how much the individual items values compare to a trillion dollars. Next to each price in dollar will be drawn a number cyan squares equal to the number of trillion dollars in the amount - so next to the value of all gold ever mines (9 trillion dollars) there will be 9 squares etc.]

[In this section the order of the items will be given in the three columns that are clearly defined (i.e. not from top to bottom as a first rule.)]

Size of derivatives market by year

[The first five items are singled out as they are framed by a light cyan square with rounded corners]

Size of derivatives market by year

1988 $3,090,000,000,000

1995 $26,690,000,000,000

2001 $86,390,000,000,000

2005 $227,260,000,000,000

2009 $439,000,000,000,000

[The next section inside the cyan frame is singled out in another black frame:]

Size of credit default swap market by year (included in the derivatives)

2001 $1,150,000,000,000

2005 $19,350,000,000,000

2007 $66,280,000,000,000

2009 $31,350,000,000,000

US household net worth

[These items are singled out as they are in a frame. The title stands at the bottom to the right]

US household net worth $58,740,000,000,000

[The first thrid part of the cyan squares are lighter and are labeled with a square bracket, similar there is two other bracket, one that covers all 58,5 squares, except for the last 1.5 which is marked by the other of these two brackets. In this order they read:]

Richest 1% $19,620,000,000,000

Richer half% $57,270,000,000,000

Poorer half% $1,470,000,000,000