Today we return to a subject raised last week. To wit, the Minnesota anti-PRT propagandist's claim:
At the time we pointed out Ken Avidor's claim is rendered absurd by the fact that the entire American economy alone has a value of $10 to 11 trillion. But what degree of absurd? Super absurd? Or mega-über-duper absurd? PRT Is a Joke is a Joke has to nail it down, because that's just how we roll.
Last weekend Public Radio International's This American Life ran a report on the current credit crisis, making much of the fact that the entire pool of money in all the world has a value of $70 trillion. So when Avidor says a Twin Cities PRT network would cost "trillions," how much is that in context?
"Trillions" is plural, so it means more than 1 trillion. At least 2 trillion then. Two trillion dollars is 2.8% of the entire $70 trillion global money supply; 2.8% of all the rice sold in China, everything bought by Bill Gates, all the cars sold by GM, all the songs downloaded at the iTunes Store, all the Slurpees sold by 7-11 -- everything.
Two trillion dollars, out of everything sold in the world. $2 trillion is roughly the GNP of Germany; about the cost of the Iraq war/occupation; the value of the bad mortgages lenders are writing off; the amount Americans spent on health care in 2005. Mr. Avidor expects you to believe a PRT system for one American city would cost that much. Why? The same reason as always -- because he pulls it out of his butt. That's how much he hates PRT.
Ken Avidor has a mortgaged credibility crisis