Editing 558: 1000 Times
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In this comic, [[Randall]] notes how news organizations take advantage of this fact to make certain figures sound comparable, when they are actually not. The "{{w|Bailout}}" referred to is the 2008 {{w|Troubled Asset Relief Program}} (TARP), wherein money was cheaply loaned to large banks by the government to help them remain solvent. The "Bonuses" are the subsequent bonuses paid by those banks to their employees. | In this comic, [[Randall]] notes how news organizations take advantage of this fact to make certain figures sound comparable, when they are actually not. The "{{w|Bailout}}" referred to is the 2008 {{w|Troubled Asset Relief Program}} (TARP), wherein money was cheaply loaned to large banks by the government to help them remain solvent. The "Bonuses" are the subsequent bonuses paid by those banks to their employees. | ||
| β | Citing the size of the bailout in billions and the size of the bonuses in millions gives the misleading impression that the bulk of the bailout was spent on bonuses - in particular to the very traders who caused the problem that cause the need for TARP in the first place - making for much more outrageous and therefore attention-grabbing story. While the news organizations are not ''lying'' per se, citing the figures | + | Citing the size of the bailout in billions and the size of the bonuses in millions gives the misleading impression that the bulk of the bailout was spent on bonuses - in particular to the very traders who caused the problem that cause the need for TARP in the first place - making for much more outrageous and therefore attention-grabbing story. While the news organizations are not ''lying'' per se, citing the figures more honestly makes it clear that the bonus payments were a tiny fraction of the bailout which is not as obviously outrageous. The news organizations, as news organizations are, were choosing the presentation that was most attention-grabbing over the presentation that conveys the information most accurately. |
Below the two comic panels Randall asks the news organizations to stop using this way to misleadingly represent large numbers. He then proceeds to compares the difference between a million and a billion using an analogue that a newscaster may understand. Proportionally speaking, if a million is like Randall taking a sip of wine and spending 30 seconds (presumably talking over the wine) with your daughter, then a billion would be like him drinking a bottle of Gin and spending a night with her (presumably having drunken sex with her). Note that a billion is 1000 million, and 1000 times 30 seconds does indeed equal 8 hours and 20 minutes, or about "one night". And a bottle of gin (750 mL, 40% ABV) contains 1000 times as much alcohol as a small sip of wine (3 mL, 10% ABV) | Below the two comic panels Randall asks the news organizations to stop using this way to misleadingly represent large numbers. He then proceeds to compares the difference between a million and a billion using an analogue that a newscaster may understand. Proportionally speaking, if a million is like Randall taking a sip of wine and spending 30 seconds (presumably talking over the wine) with your daughter, then a billion would be like him drinking a bottle of Gin and spending a night with her (presumably having drunken sex with her). Note that a billion is 1000 million, and 1000 times 30 seconds does indeed equal 8 hours and 20 minutes, or about "one night". And a bottle of gin (750 mL, 40% ABV) contains 1000 times as much alcohol as a small sip of wine (3 mL, 10% ABV) | ||
