“Purchased For $2.9 Million, Now Worth About $4”: 30 Examples Of The Biggest Wastes Of Money
According to data from the Drug Policy Alliance, the United States government spends $39 billion each year on the war on d***s. Cumulatively, it amounts to $1 trillion since 1971. However, recent findings have shown that illegal drug use in the US is once again on the rise, putting the effectiveness of these efforts and the amount of money spent in question.
The war on d***s is just one of the many examples where people spent exorbitant amounts on something that isn’t widely beneficial. Recently, a discussion about it surfaced on Reddit when someone asked, “What was the biggest waste of money in human history?”
The responses poured in, from similar war-related expenditures by other countries to the millions of dollars spent on the very first NFT.
These answers may disappoint you but also expose how ill-advised people can get with money.
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4 trillion dollars to replace the Taliban with the Taliban gotta be up there.
This problem goes back 50 years to the Cold War. The real problem is not American intervention. The problem is/was the absence of *nation building* in a region that was a battleground between the USSR and the United States. The US actually trained the Taliban, in an effort to help the locals expel the Soviets. Then the US Congress did not do the proper follow through. Instead of doing what we did in Germany and Japan and many other places (invest in building roads, schools, hospitals, etc. basic infrastructure), Congess foolishly said NO. After the Soviets were out, the Afghanistan funding line was cut. That's the real financial idiocy. We could have spent a few million in the 1980s and avoided 9/11, avoided the Taliban being in control anywhere, etc.
Wow, it's almost like the US made the same mistake that every empire in recorded history made when it invaded Afghanistan. It will be different this time.......
One could give endless examples of human stupidity or, worse, of the way in which fear contributes to that same stupidity.
Bailing out billion dollar companies during COVID like Delta Airlines that charges me $50 to bring a bag on an airplane. Instead of, you know, training new doctors or fast tracking those already in med school, or paying off their student loan debt.
I will never understand government bailouts of big business being supported by pro-capitalism folks. I mean, I do get it but also find it SO incredibly wild. If a business isn't doing well enough to make profit then it shouldn't be in business. So I'm told.
I gotta go with Nanni for buying that sub-standard copper from Ea-nāṣir bank in the 1700s BCE. Just a terrible decision all around, from what I've read.
Must've been real fúkn pi§§ed off to take 4 months to ɓitch about it.
Tax breaks for the rich.
The myth of the "American dream" being common and attainable for anyone from any SES leads the poor and dumb to think that the tax breaks for the rich might benefit them one day. When they're actually the rich making the rich richer so that they can hoard even more wealth.
What about for multi billion dollar companies and bailing them out because they are too big to fail. Whatever happened to anti trust laws. Teddy Roosevelt a republican is probably spinning like a top in his grave.
UK voting for Brexit. This has cost billions already in lost GDP with the eventual figure likely in the 100s of billions as it impact compounds in the decades to come.
Collective madness.
American here. *Opens mouth to say something about voting for nationalist idiots with bad hair, but looks around sheepishly and decides silence is golden*.
@Rob D: yeah. Consider the following. I despise BoJo the clown, but think about it: you could have him in your house as a dinner guest and he'd be perfectly charming and wouldn't try to rape anyone... 😬
Load More Replies...But from what I heard the millions formerly wasted on the EU now make the NHS the epitome of efficiency, what with all the additional funds being directed their way... /S
Not true - we can now have blue passports! ....oh we could have had them anyway but we, as a soveriegn nation, chose EU purple. Errm well, no hang on, give me some time errr fewer immigrants ..... no thats not happening. 350M extra per week for the NHS........nope. Just going to give Johnson, Farage and Rees-Mogg a call......no they don't want to talk about it, seems they are too busy counting the extra money they made in the last 8 years
Load More Replies...My dad, 70s, voted out because he remembered Britain before the EU. He’s since learned that removing a country from a long standing set of treaties isn’t as easy as just going back to how it was. Sometimes, I wish I voted. I had the right but thought “I live in Canada now, who am I to tell people living in the UK what’s best for them?” It’s a small thing but I loved being able to travel throughout Europe or even get a part time job. That’s gone now, and I’m not really clear on what the UK gained.
Hm. I remember a bus saying on his side every week a few hundred million where being transferred to the EU, and you can all save that. But what do I know. I am sure the Brexiteers knew exactly what they where doing.
Yes, that £350 million a week claim was a deliberate lie - the point of the lie being to distract attention from the *real* issues, to get the "remain" campaign banging on about something detached from what most people were concerned about (350 million a week went out, a few hundred million a week came back - the total going to the EU wasn't huge).
Load More Replies...I'm still salty about this! When the Scottish independence referendum came around, England told Scottish voters that if we voted to leave the UK, Scotland wouldn't be able to join the EU. So, most Scottish voters voted to remain, thinking that we'd be better off. When the EU referendum was brought about, the majority of Scotland voted to remain. Because England has a bigger population, we were dragged out of the EU along with the rest of the UK. And people really wonder why a lot of Scottish people hate the English...
@Boo, oi! England said nothing of the sort to Scottish voters. Us English had nothing at all to do with it. The EU pointed out that Scotland would have to meet EU joining requirements and wouldn't automatically gain EU membership - nothing to do with England or the English. The UK government also had a lot of things to say. But us English? We just sat here. And yes, a lot of English people did vote leave - so? Why hate the English? It was the UK government which decided on the referendum - hate David Cameron if you like, but leave us English out of it. We've done nothing to you lot. Most of us don't even think about Scotland.
Load More Replies...In actual fact, voting amongst younger people was found to be roughly double what was originally reported, according to Opinium, with around 65% turnout. 70% of voters under 44 (born in 1972)voted to remain. What are your sources?
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Quantatitive easing, and the banking bailout.
We’ve created a system where businesses can be ‘too big to fail’ and they can expect a bailout when they get into trouble, but when times are good all the profits go to the shareholders. So we’ve privatised profit, and socialised risk. This means we’ve effectively rigged the game for capitalism, making a system where market forces are no longer fully in play, and creating zombie companies that should have folded a long time ago.
I wanna be rich! Unfortunately, my parents didn't cooperate...
Load More Replies...Surely the taxpayer bailing out failing companies is the very definition of socialism? ;)
If a business is really too big (or important) to fail, it should not be in the hands of private ownership.
You know, you can become one of those shareholders real easy. Anyone can buy stock.
Yeah if you had put 1000 euros in (Dutch systemic bank that didn't fold) ING in March 2009, you'd have 8800 euros now - an annual yield of over 14%, minus inflation is about 12%. A little under half of Americans have that kind of money saved. Fewer still haven't needed it in those 16 years. If only you had invested 50,000 back then, you'd be able to buy a house with the profits now. /s
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Me forgetting to turn off the lights, according to my dad.
Given the cost of electricity these days, you better turn off the damn lights.
The lights are the least of your consumption these days. Typically, the "big light" in the living room would be perhaps 5 x 60W incandescent bulbs (300W) - these days with LED lights, it is 5 x 6W (30W). I managed to save 30W by fixing the settings on my NAS so that it hibernated properly - 30W x 24hr x 365 days equates to about £50. Leaving the lights on for an hour or two ain't gonna hurt. Washing machines, tumble driers, immersion heaters all use way more.
Load More Replies...or holding the door open .5 seconds too long , according to my mom. Depending on the season it's either "I'm not heating the whole damn neighborhood" or "I'm not cooling the whole damn neighborhood" .
It was holding the refrigerator door! At least that's what my mom used to say, lol.
Load More Replies...Before newer kinds of light bulbs those things did use a bunch of electricity. If you had 20 of them on throughout a house and on average they are using 40Wh each....add that up.
40? Are you people moles? We had 60 & 100 watters, the ones that heat better than the oven!
Load More Replies...I always ask, not tell btw! Ask people to turn off the lights at mine if you're not using it. It's mainly the bathroom one because people forget to. Two reasons. 1st - I was being charged £4.50 - £4.80 A Day (!) by OVA at first when they swapped me over to a Smart Meter. It took ages to get that sorted out. I didn't even need a Smart Meter. I had everything budgeted for on Pre-Pay and knew exactly how much I use and how much I needed to put on the meter per week, it was fine. Anyway that whole thing happened and it's a hangover from that. But the second reason why is because, disablity comment again! Yeah, I'm disabled so I can't change my overhead lightbulbs myself anymore. I have to ask my lovely neighbour if he can change a bulb for me when he can, no rush! When you can! He doesn't seem to mind though 💜🙂💜 But I just feel rude for bothering him!
My dad constantly turns the lights off in my house. My house has almost no natural lighting in the basement. I don't like stubbing my toes. I leave a couple lights on all the time as safety lights. He still tries to turn them off. I had to ward the light switches so it's hard to turn them off. It' sad. It's my house. I pay for the power. I'm pushing 50 here. You can turn your lights off if you want at your house but not mine.
Trump's $1.7 trillion gift to the wealthiest of the wealthy. Everyone in the US is paying $5,000 of their taxes directly to them. Call me crazy but I think we should claw it back.
I don't want to! Can I change the channel, please??
Load More Replies...Amazing to me how many MAGA were saying how awesome it was that they were saving $100-150 a month in taxes but too oblivious (maybe intentionally) to notice that they were losing thousands in tax returns at the end of the year. Simple arithmetic is difficult for them. Trump literally steered money from the pockets of the poor and middle class directly to the wealthy. And he was applauded for it by the average American. We deserve what we get the next four years. Musk has already released a report to "improve the economy" with one of his main recommendations (along with retirement age pushed to 70 and massive social security cuts) being more tax cuts for billionaires. Imagine that.
If we do see SS cuts. They better damn well start right now. I want all of his retired piece of s**t supporters to wake up next legislative session facing a 30% cut in benefits. This won't happen though. They'll time cuts so none of his boomer sociopath voters feel a thing. 🤬🤬🤬🤬
Load More Replies...With this act Americans have proven that they are fundamentally unable to govern themselves.
Americans can absolutely govern themselves, as long as you keep the smart ones in charge. As soon as the dumbest loudest ones break through, we get….this *gestures broadly*
Load More Replies...People voted him back in. My opinion is that their egos couldn't handle a woman in power so they chose a moron.
And they like the lying. They wish they could get away with it themselves.
Load More Replies...Vance is actually more frightening. Trump is pandering to the dumbest humans ever produced. Vance, like DeSantis, means it. I only hope republican boomers die off before either can take up the republican mantle.
Load More Replies...Now, well, the majority of the US citizens decided that this is what they want.
Not a large majority. Roughly half, and rapidly declining. The more they realize they might get exactly what they voted for/Trump is already walking back many of his campaign promises and he’s not even in the White House yet, they’re starting to regret it. Wish we all didn’t have to go down with them.
Load More Replies...But it was to take effect after he was in office, so most people did not realize this, I think. Yup, I realized I paid more taxes but never voted for the Cheeto con man.
The Swedish ship Vasa.
The Vasa was built in the 1620s to take advantage of the very newest in warship technology, a second row of guns. It was to be a symbol of Sweden's might, and thus was decorated with beautiful statues and carvings. This ship took three years to build and cost roughly 5% of Sweden's GDP.
Unfortunately, the effect of a second row of cannons on seaworthiness was poorly understood. With great fanfare, the ship set off, experienced its first breeze, and still within full view of the city of Stockholm, capsized and sank.
The hazard was understood by the shipwrights but the king wouldn't hear it he wanted a majestic ship.
Don't miss the Vasa museum if you go to Stockholm! This ship is fantastic, straight out of Pirates of the Carribbean
Why do Swedish ships have barcodes? So that when they return to port, they can scan de navy in...
In one seaworthiness trial while still at anchor, the crew were made to run from one side of the ship to the other. The trial had to be stopped because the ship was rolling dangerously. No one told the king, and the ship was launched. Many of the crews' families were on board, planning to disembark on the way through the archipelago to the Baltic.
Capitalist agriculture and food distribution. Like every second potato is thrown away, milk is overproduced and thrown away, cow hides are destroyed rather than tanned for leather to keep leather prices stable, insecticides and herbicides to maintain massive monocrops killing pollinators and low key poisoning us instead of higher total mass yield less intensive multi cropping, like keeping pigs on an apple orchard to eat the fallen apples where the apple eating beetles lay their eggs to k**l off a pest instead of spraying... oh no but instead we feed the pigs unsold grocery store stuff, all ground up, the packaging left on rather than paying people to take it off first. So much for labor efficiency, thanks capitalist goons. Restaurants not sending their best either, it's waste cruelty and exploitation all around the chain and the cost is incalculably high.
Food waste, from animals bred to end up in the dump to giant monocultures destroying ecosystems, is a crime. It always is paired with overproduction, poisoning nature and animal cruelty. It is a war we as consumers fight against ourselves. Most consumers can achieve a change, by slightly changing shopping habits. There is no general recipe, everybody has to make individual choices. And voting for a club of oligarchs is not helping.
I agree and that's why I avoid ALL of the large fast food chains. You just know the animal welfare will be next to non existent.
Load More Replies...We’re smart enough as a species that we could make an amazing world where everyone has their basic needs met and we’re not destroying the planet. It’s possible, we can do it. But we won’t. Because money.
It doesn't seem to matter if one person has enough if they don't have more than the person next to them... sigh. The richer you get the more you want seems to be very true in my experience.
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Most of Dubai's Artificial islands.
Fossil fuel country builds low lying islands: what could go wrong?
Load More Replies...I agree absolutely. Fake, artificial city to make sure you Do Buy, Buy, Buy !
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The Vietnam War at $176 billion. Countless dead for no reason, and nothing positive came of it.
In today’s money about 2 trillion, w/o considering NPV. Of course still less than the Afghanistan, Iraq, and Syrian escapades.
I don't know about "nothing positive" coming out of the Vietnam war. Vietnam got to be run by the Vietnamese without Western interference, and the West learnt it couldn't just get what it wanted by using military force. Surely another nail in the coffin of Western imperialism isn't an entirely bad thing?
Yes, there was... an independent and united Vietnam, with a thriving economy !
If you haven't read a novel called The Women you definitely should. Lots of stories of the human cost of Vietnam.
Wait until we try to take back the Panama canal. And don't forget about Greenland. Then he'll realize we used to possess the Philippines. And.a repeal of the spending cap.
BC the Govt of South Vietnam asked the US for help when the French pulled out. They were an ally, and the US was part of SEATO and South Vietnam, while not a member, had a pact with SEATO requiring SEATO members to help them in case of war. Its why Pakistan, Australia, Thailand, and The Philippine's all helped out
"Unlike the NATO alliance, SEATO had no joint commands with standing forces. In addition, SEATO's response protocol in the event of communism presenting a "common danger" to the member states was vague and ineffective, though membership in the SEATO alliance did provide a rationale for a large-scale U.S. military intervention in the region during the Vietnam War (1955–1975)." (Source: Maga, Timothy P. (2010). The Complete Idiot's Guide to the Vietnam War, 2nd Edition) So, wasn't it the exact other way around? Unless I'm getting something wrong, in which case PLEASE correct me, I'm not from the US, and history lessons at my school treated the Vietnam war like a mere anecdote (unfortunately).
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War on dr*gs, an impossible battle.
Ok_Turnover_1235:
Trillions of dollars later and h*roin is 50x cheaper and 10x more potent.
That "war on d***s" that started in, ooh, about the early 1970s, what's it achieved? More illegal d***s, more potent illegal d***s, more dangerous illegal d***s, more harm from illegal d***s. And much greater profits for those at the top of the illegal d**g supply chain. A cynic might conclude that some of those able to influence policy are profiting from this arrangement...
Like any other war, it is fought to benefit the weapons manufacturers and distract the people from the real causes of their complaints.
Someone told me a while ago that cocaine is now expensive, by comparison, and somehow that genuinely surprised me (if they were correct).
Oh absolutely. I don’t partake in the booger sugar but I’ve known people who have before. Cocaine has a reputation for being one of the most expensive drúgs out there and there’s a reason it’s known as “the rich man’s d**g.”
Load More Replies...You forgot to mention the part where it was the US government that pumped up the importation of heroin into black neighborhoods during the Vietnam war.
The problem with hard d***s isn't that they kill people it's that they don't do it fast enough. Now hear me out. If heroin was 100x stronger and therefore more deadly people would be much more afraid to try it. Same thing with cigarettes, high fructose corn syrup and processed cooking oils: they kill people too slow. The faster something kills you the less likely you will try to do it.
What you are saying makes sense. There was a crack cocaine epidemic in Brazilian’s prisons, and no one could solve it. Then, a mafia called PCC that rules over many prisons and great part of the organized crime in Brazil was born. One of PCCs rules was: no crack cocaine on “their” prisons - and the punishment was death. It worked, crack cocaine is gone. 🤷🏻♀️
Load More Replies...And heroine is no 75 percent more deadly because of what it's being cut with.
Heroin is basically impossible to find now. Everything is fentanyl. Much cheaper to produce and more potent.
So the product is cheaper and more effective? Isn't that tangible progress? /s
Scientology.
First, it is no religion. They said they are a religion for tax reasons - not paying tax, that is. Secondly, I just saw a video from 2 ex-scientologist, highest level (one the niece of the current leader), and they say there are about 15 - 20 thousand (!) scientologists in the world. Not the millions they claim.
For me, it's because it's beginning is a documented fraud within living memory. I can understand people believing things that their people have believed in for millennia, whose beginnings are lost to time. But anyone who believes in something that was invented as an experiment in my lifetime, has no excuse
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Can’t believe nobody has mentioned world war 1..
Literally all of the world’s most wealthy nations completely financially ruining themselves and slaughtering a large proportion of their young men and all of the historical consequences that followed over essentially nothing and achieving nothing except for a massive geopolitical regression with costs which we are arguably still reeling from today.
"But it won't be wasted when we WIN!" /S Plus there's a number of industrialists who got pretty wealthy from aiding and abetting in the slaughter. What's a few million corpses if YOU got rich, or firmly established your dominance over your peers? Of course it was worth it!! /S
EDIT, removed my comment, I misread WWII out of habit, and turns out I was talking out of my a**e :-)
Haven't seen the OG comment, but I respect your self-awareness. Wish more people were like that. :) Take my upvote!
Load More Replies...WWI and WWII were basically the same war with a 20 year truce. They were both for the same reason. EMPIRE.
And definitely created a monster out of Hitler. He could have been just a bad watercolor artist had there been no WWI.
Only tangible benefit of the war was the fall of three major monarchies and the general discreditation of the idea of monarchs with real power.
And 2 of them were eventually replaced by dictators.
Load More Replies...It was because of the alliances between countries in those Imperialist days. It also was the cause of WWII.
Everyone here has better answers but I've gotta mention Twitter. What an absolutely idiotic way to buy a company. Acquire because someone told you you can't, fire 80% of the staff, abolish the branding completely, remove mod support, offer worthless utilities that used to be free as part of a "premium service," then force push notifications to every single user that are really just your personal tweets, and when people still won't listen to you masquerade as an anonymous user on your own app/company, artificially inflate your own follower count, and be your own biggest supporter.
That's what I want to believe as well. Surely nobody can be THAT dumb, right? RIGHT???
Load More Replies...When you put it like that, it sounds like things a dictator would do. I wonder if they have a picture of Musk in every cubical. Or maybe it's the enforced company background you can't change.
I mean step 1 was him demanding they all take a loyalty pledge, so....
Load More Replies...Doesn't matter now. Tax money will be used to make Musk whole thanks to the last "election". I've forgone my scruples and invested in Tesla stock, since it will be subsidized to success.
Maybe. It'll be interesting. The red meat for the base is hostility towards any subsidies that may make things greener, so that's one aspect with an unhinged congress that enjoys "owning the libs" with as much environmental destruction as possible. But Tesla is also turning off the environmentally conscious "lefty" consumer cause of the politics. I mean, those better be some hefty subsidies if Tesla is to stay solvent with a target market that hates the owner, and a potential market that's proudly and deliberately hostile to green tech. I mean, the guy got his base to distrust windmills FFS. Also, just wait. No way Trump doesn't turn on someone capable of drawing away that much spot light. I give it under a year before Trump and Musk are at outright war.
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The banana with duct tape.
Well, it seems to have impact, so it is culturally relevant, as we cannot stop talking of it, so... that one is worth every cent.
I don't get this. Like, when did this bit of news first start appearing, a few years ago? Wouldn't the banana have spoiled by now a couple of times? Did they just replace the banana? How did they sell it, with a piece of wall? Did they just cut it out of the gallery someone put it up as a joke at first? I have so many questions lmao
The artist said, "You are not buying a banana taped to a wall, you are buying the concept of a banana taped to the wall." And no, it doesn't make any more sense to me.
Load More Replies...One of my old art tutors had an exhibition but needed an extra one on the day to fill up the space soooo? He went and bought a small spool of thread from the nearest shop, tied a tiny knot in it and thumbtacked it to the ceiling!!! 😄 I can't remember what he called it but said to us - "Give anything a pretentious name and it'll be art"! 😄
Got to be that person who bought the first ever tweet as an NFT, purchased for $2.9million, now worth about $4.
I was skeptical of the few friends who were raving about crypto, but they seemed to fair ok by getting in early & out quickly. However, with the two who raved about NFTs my opinions on them took a dive & my perspective of who they were had a major shift for the worse. The concept was well thought out, but people ignored the obvious long term flaws of this type of virtual commodity and I just felt they lacked good judgement.
When Covid was in full swing and the entire trading market crashed then the federal reserve tried to “stimulate” and “save” our overlord corporate scum by injecting 3 trillion dollars into the stock market just for it to immediately crash again like 2 minutes later.
The Iraq War (2003-2011): Regarding the cost, Estimates vary, but it's in the trillions of dollars, with some sources suggesting around $3 trillion when including long-term healthcare for veterans, interest on borrowed money, etc.
"Rarely is the question asked: Is our children learnin'?" - US President GW Bush, 2000
The National Debt increased from 5.7 Trillion to 12.5 Trillion under Bush
But Cheney sure made out like a bandit! Haliburton got ALL of the contracts!
any money spent on the military. Simply writing death warrants for no gain
When the US government bailed out Goldman Sachs after Goldman Sachs bought AIGs failing bonds at pennys on the dollar, fully knowing they would fail, and getting bailed out by ex Goldman Sachs Ben Bernanke at full face value of the bonds. Biggest robbery of the American Taxpayer and largest waste of money in history.
Colin Powell’s lie about weapons of mass destruction and the resulting War on Terror is also up there. But to be fair the US had to respond to 911 physically. Was just so overblown
"had to respond to 911 physically": yeah, right, gotta go find someone to beat up in revenge. Just try and make sure to get the right guys to set an example. "Right" as in "small enough not to make problems", of course - as opposed to "the ones actually responsible". Still effed up on both counts anyway.
The correct reply was what we initially did - clear Afghanistan of the Al Qaeda bases and remove the Taliban who sheltered them. The weapons of mass distruction were supposedly in Iraq, which had nothing to do with 911, despite what bush, Chaney, and Rumsfeld told us.
Load More Replies...The US and many allies "responded physically" in Afghanistan in 2001, the year of "9/11". Iraq (2003) was a mendacious Bush/Halliburton war of choice.
Colin Powell's shame falls directly on Cheney and Rumsfeld. IMO Powell was a good soldier doing what was ordered and was made the face of a lie. Also IMO he would have been the best prez of the last 40 years.
Colin Powell was US Secretary of State, a civilian, from 2001 to 2005. Not a "good soldier", on the contrary.
Load More Replies...you do know Netanyahu wasnt even an elected official in Israel at the time. He was literally a private citizen, with no position or Authority. Trying to blame Iraq on his makes you look really really dumb. BTW Mossad and the Israeli Govt opposed the US invasion, very publicly, and said the Iraq did not have WMD's and that Saddam was vital to preventing Iran and Al-Qaeda type groups from taking over the region.
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Indulgences. As in the Free Pass given for sins during the Crusades. You could literally buy God's forgiveness for sins past or future.
I'm no accountant but I'm pretty sure that's a waste of money!
Yeah, well, Martin Luther spotted the problem with Papal indulgences a few years back, sorry, a few *centuries* back... https://en.wikipedia.org/wiki/Martin_Luther
They were still giving them out in the 50s. My inlaws had a plenary indulgence, or as I called it, a get into heaven free pass.
Not future. Indulgences were a way to reduce or remove the temporal punishment for sins that have already been forgiven. That is, for past sins, since there was no such thing as advance forgiveness.
FYI you can still be granted indulgences. They never did away with the practice, just stopped selling them publicly. But rich donors still get granted them, and the pope will sometimes blanket grant them to a crowd. I mean, if a moron wants to give money for magical protection that doesn't exist, you take the money, but still...
Great source of income for "The Church". One of the reasons Martin Luther became so pissed off.
Stonehenge.
The whole thing was supposed to be 18 inches tall, but the work crew misread the runes.
You really need to watch the whole thing to understand, but here's a relevant clip: https://www.youtube.com/watch?v=qAXzzHM8zLw
Load More Replies...B.S Johnson is a reference to a Terry Pratchett character. Explanation here: https://discworld.fandom.com/wiki/Bloody_Stupid_Johnson
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New Zealand spent about 25 million dollars (NZD) on a flag referendum, before it started the public were against it saying we would never change the flag, the government persisted anyway, two years later the public voted to keep our current flag, so we did 😅 massive f**king waste of time and money for a result they should have been expecting from the very beginning.
They didn't vote to change their flag, its already pretty good.
Load More Replies...It actually occurred to me that we should insist that the UK emblem be removed from all flags that show it (including, somewhat surprisingly, Hawaii). Then perhaps we can all move on from the colonial past.
Maybe you're spinning it the wrong way. What if you say you're actually wearing the flag of your vanquished colonizer as a warning and as trophy? That could work without requiring any change to the current design (well, a few drops of blood under the union jack would convey a clearer message...)
Load More Replies...Same in Australia with "The Voice" referendum. I think that only wasted about AUD$15 million.
King Louis IX spent something like the entire GDP worth of France on religious relics such as a piece of the True Cross. A sliver of wood said to have been from the cross that Jesus was crucified on. It doesn't take a genius to see it was a fake now.
The relics market was a really big thing at the time. Possessing one was a sign of power, and à source of wealth since pilgrims would come by thousands to see it.
Fraud, and something of a pyramid scheme. The relics the king (and cloisters, monasteries, churches,...) bought attracted pilgrims. Tourism brought considerable money, even in the middle ages. I don't know how many people actually believed that their newly acquired foreskin/sliver of wood/femur/whatever was authentic, but I do know that there were quibs even at the time, that you could have reconstructed whole forests out of "pieces of the holy cross" that were on the market.
I remember visiting a little museum/church in Spain with the finger of a saint on display. The lady who worked there told us it was one of something like 40 of that saint's fingers on display in the country, but that THIS one was real (with a big wink). She was awesome.
He also purchased the receipt for the "Last Brunch." Everyone knew about the Last Supper but the Last Brunch was really rare. (thank you Father Guido)
The Crusades. Nothing more than a "rape and pillage" series of expeditions. We're still suffering the effects today with the misery and carnage in the Middle East.
Those guys who bought tickets to the titanic sub.
Judging by the amount of time they are spending down there, I'd say it was money well spent.
Insurance.
I can't believe this isn't near the top right now with the CEO and the fires.
Insurance is a bet on misfortune happening to you. Back in the day, people understood that if everybody chips in, hardship of a few could be covered, by this stabilizing the community. Due to today a lot of people swoon and adore the rich and famous, a few people learned how to get rich with that. If you hate the rich, stop making them rich.
Wait, you mean health insurance in the US, right? I thought it was insurance in general and was a bit confused for a minute.
The fires have nothing to do with health insurance.
Load More Replies...I'm in the VA Healthcare system. It was easy. All I had to do was give a few years of my life to the military, get into a helicopter crash (I was not the pilot), and have pain ever day for the last 30 years.
Nuclear weapons - 5600 BILLION US dollars
To create a weapon, that is designed not to be used, but instead to create a scenario (mutually assured destruction) so they are never used.
Umm. The thing is, back in the late 1940s, the US military reckoned that about 200 ordinary atom bombs (plain fission type) would be enough to destroy the USSR. But those in industry who saw a chance to make money influenced the ones in charge of the purse strings, and the US built thousands of thermonuclear warheads once it had the know-how - each one massively more powerful than the fission bombs used on Hiroshima and Nagasaki. The UK, France, and Israel all have nuclear *deterrent* forces of something like 200 warheads each. The US went mad on nukes, and so did the USSR in fearful response. Horribly costly, horribly pointless, madly threatening. A huge waste of money and a huge threat to the world.
Load More Replies...I pay for collision coverage on my auto insurance - and I hope every dime is wasted.
Nukes are awful, but imagine the lives that would be lost in all the wars that would definitely happen without nukes as a deterrent.
The lives lost in all those wars which happened anyway despite the nukes existing, you mean? Assault rifles have killed many times more people than nuclear weapons have and the wars still rage on.
Load More Replies...Oh, it was designed to be used, rust me. Spent my first ten years freezing whenever a plane went overhead.
You do realize it's the conservatives who support nuclear proliferation right?
Load More Replies...Yes, you're right. No nuclear weapon has ever been used. Brilliant statement. 🤔
There was no other human project that was of a greater magnitude than the Reality Labs @ Meta. For reference it cost is comparable to the core part of the Apollo Project so far and it is only the beginning. Total cost of Meta's Metaverse exceeded $100B in 2023. No other single project comes close to this. (and its s**t)
Capital Expenditure each year:
2018: $13.92B
2019: $15.65B
2020: $15.72B
2021: $19.24B
2022: $32B
2023: $28.1B
2024: ??? (expect significant reduction)
EDIT:
Fixed the inflation adjustment as correctly pointed in comments. In today's dollars, Apollo program main development was ~$150B, with ~$300B for all auxiliary projects included. Keep in mind, Metaverse is shutting down in its INFANCY after ~$140B devoted to it. Nothing has been fundamentally accomplished other than a multiplayer Sims4 ripoff. Apollo program landed a man on the moon within $180B employing about 400k people pushing the boundary of the technology in electronics, transmissions, material science, propulsion etc. that we inherited as a society.
Good, let ALL of Meta fail please. It has added nothing of value to society
By now I'm hoping Meta/Facebook fails as a matter of principles, they're so evil that I would root against even a project to make puppies that never age, knowing full well that they would use them as means to prevent people from ever wanting to have babies or something. Also, f**k Elon as well since we're at it.
To put that into perspective, that's about half the money we need spent each year to finally develop nuclear fusion generators to power our entire world with cheap, clean, green, electricity. The ITER project had to beg and plead for almost 50 years to get $20 billion. If we spent $10 billion on it a year for 10 years, we would finally have the technology.
The apple vision pro cost $140 billion just in R&D. They're manufactured 600,000 headsets, at an estimated manufacturing cost of $1,521 per unit (adding another $912,600,000) and what has it all netted? UP TO 300,000 units sold, or $1,050,000,000 in revenue. Yes, the metaverse is infinitely more stupid just on the basis of the idea, let alone the financial factors....and yes, its likely that the Vision pro was always intended to be a financial loser, with the real goal to be the one creating a new market, priming consumers for the revised, and cheaper device that will follow....but whatever the intentions....they still spent a fuckton more only to end up with a dismal failure.
If the Vision Pro worked well on Windows, I'd have bought one. What I've seen of the Metaverse on the other hand made me giggle if it didn't make me groan. As you said, it may be too soon to declare the Vision Pro a failure.
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The CIA putting a microphone into a cat to spy on commies only for that cat to get hit by a car, I think it was like 6 million dollars and countless years of preparation and training only to be lost under some tires.
I guess you can say curiosity did indeed kill the cat.
Didn't the US military waste money on a project to train dolphins to carry bombs to blow up ships and the dolphins just gave them a big cetacean FU?
Australia's emu war 💀
I'm scrolling long enough, but I never once saw the CIA trying to spy on "friends of Dorothy".
Background: a "friend of Dorothy" was a mid century slang for gay people. CIA thought this slang refers to some random woman who organises drag shows and riots. Many tried to infiltrate the gay community in order to her to this woman. In reality, many queer people had strong affinity to Wizard of Oz movie.
Arrested Development is so underrated, it’s genuinely my favourite show (I named my cat Steve Holt lol). I’ve rewatched it multiple times and I always end up catching even more subtle but really clever jokes I missed 😂
Load More Replies...Many gay people have a strong affinity for Dorothy herself, Judy Garland. Ask either of her daughters.
The Great Wall of Gorgan, built by the ancient Sasanian Empire in modern-day Iran. The purpose was to protect themselves from Nomadic invadors.
It was constructed with 100 million man-days of labor, which is equivalent to around 300,000 workers toiling for five years straight.
Considering the average labor cost, material expenses, and other related expenditures, the total cost of the project could have reached an astronomical sum of approximately $130 billion in today's dollars!
Needless to say, that it failed its intended purpose as Huns devised techniques to overcome the wall without much hassle.
I think the Maginot Line in France had the same kind of short-sighted thinking (and cost)
And yet the Great Wall of China was successful at keeping out both the Huns and the Mongols. I wonder what the difference was?
I’d have to say that gym membership I didn’t cancel until 8 years after I moved away.
consider the palace of versailles - louis xiv’s gleaming monument to absolute power. fourteen billion livres poured into marble halls and mirrored galleries, while france’s peasants starved in their millions. but the true waste wasn’t in the gold leaf or the fountains. it was in the way versailles transformed human nature itself into an ornate game of appearances.
the nobility bankrupted themselves maintaining the elaborate fiction of their own importance, spending fortunes on the right clothes, the right apartments, the right to watch the king wake up each morning. they abandoned their estates to crowd into tiny rooms, competing for the hollow prize of royal attention. entire bloodlines extinct now, having spent their last coins on silk stockings and powder for their wigs.
what makes it devastating isn’t the money - it’s how versailles became a machine for converting human dignity into spectacle. aristocrats who once governed provinces reduced to obsessing over who could hand the king his shirt at morning dress. a system so perfectly designed to waste not just wealth, but the very essence of human potential.
even the king himself became trapped in the apparatus of his own glory, every moment of his life transformed into theater. fourteen hours a day performing the role of the sun king, until even he couldn’t tell where the performance ended and the man began. an entire civilization pouring its resources into an elaborate performance of power, while beneath the gilt and gardens, the foundations of their world rotted away.
the halls still stand, of course. tourists shuffle through them now, phones raised to capture the excess. but what they’re really looking at is one of history’s most exquisite machines for wasting not just money, but humanity itself.
If trickle down economics really was a thing Louis XIV and his court would still be praised to kingdom come for supporting all these hardworking laboreres and craftsmen, including everyone in the fashion business, from jewellery, to clothes, accessories, and hair/make-up. Didn't work then, doesn't work now, because only a very few get a piece of that cake - not everybody can make a living designing palaces or selling yachts.
That was the point of it though, it was a way for the king to keep a tight grip on his nobles and avoid rebellions. Left to their own devices on their estates, they had access to resources and men to fight amongst themselves or against the king to vie for power. Playing to their vanity and tying prestige to how close they were to the king gave him massive power and helped stabilise the country
The Vatican.
Actually the Vatican has been a great investment. Think about how little they had when they started the whole Catholicism thing back in 314. Look at how much they've amassed since then. I'd say the return on the initial cost has been outstanding.
Internet in Australia.
Back in the 2000s, An outgoing Labor Government preposed an ~30 Billion dollar, Fibre To The Premise Nationwide Broadband Network Internet plan promising speeds of up to 100Mbit/s. The incoming Coalition Government, promised a cheaper Fibre To The Node Broadband network that utilised the already installed copper wiring for just under $950 million... And now because of that, the internet in Australia is just barely becoming able to reach speeds on 1000Mbit/s, after a revision to the planned rollout which has cost the Australian Government over 70 billion dollar.
AOL merger with Time Warner.
Wasted potential, AOL at the time was an internet power house. But because the CEOs were dusty old farts they didn't what to do with it. Now AOL is another Blockbuster
Politicians spending hours of taxpayer-funded time on oral mass-debation speeches to promote themselves when they already know how they will vote on things, plus the time spent on researching and speech writing.
Sometimes they don't know in advance how they're going to vote because the rich haven't told them yet.
Time spent on research is never a waste. And tbf, if you don't like how legislators vote that is on you. It is easy to find their email addresses. Sit down and write to them about the issues you care about, and how you want them to vote and why. Get your friends and family to do the same.
Don't think we haven't spotted the innuendo in "oral mass-debation".
Panama canal first attempt. The French didn't understand what they we're getting themselves into and death from mosquitoes killed off too many that the project had to be abandoned.
The French, in particular Ferdinand de Lesseps, who had already been successful with the Suez canal, messed up massively. According to Wikipedia (yes, I know, but I was not curious enough to REALLY invest time and money) he visited the site three times, always during dry season, and based his planning on these three months' weather conditions. Anyone living in a wet/dry season part of the world may be able to guess how that played out during torrential downpours some months later. The setbacks were hushed up with massive bribes being paid towards politicians, journalists, and news companies to keep investors and public in the dark, and attract more workers. The mosquitoes themselves, while nasty, were only the top of a cake of mismanagement, bad planning, technical problems, epidemic malaria and yellow fever infections (moskitoes as vectors), decorated with landslides, crocodiles, snakes, and other climate/terrain related problems that come with working in tropical swamps. An average of 7.5 workers died per day (altogether 22000) between 1881 and 1889.
So the bad investment was really hiring de Lesseps.
Load More Replies...Anyone who ever invested a cent into meme coins especially the “Hawk coin”
The Victorian government here in Australia gave up on hosting the Commonwealth games, they spent $589 million dollars for nothing.
But how much more would it have cost if they went ahead? My understanding is that Victoria is seriously broke, and just couldn't afford it by the time the rubber hit the road. To keep going would have entered into sunk-cost fallacy territory. And it's the Comm Games - no one cares, not even the Commonwealth countries.
I live in a commonwealth country (🇨🇦) and I don’t even know what the commonwealth games are lmao
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Probably that Dutch guy who spent money buying tulips in 1636.
ThreadbareAdjustment:
Basically a massive inflation in the price of tulip bulbs in 17th century Netherlands. It's considered the first speculative bubble in history.
A misconception is people were paying so much for the tulip bulbs themselves though. They were actually buying contracts to get one when they bloomed later which only happened a few months a year. So someone would buy a contract on one in hopes of making a profit reselling it...and the price eventually hit ten times what an average laborer would make in a year before the bubble burst completely after about three years.
Until today, when tulips and tulip bulbs are a major export product from the Netherlands. So it paid off massively in the long run.
I cant believe no one has mentioned the failed seige of Rhodes in 305-304.
Long story short, Demetrius I, King of Macedon, was afraid of Rhodes naval power and their potential alliance with Egypt. Demetrius decides he's going to attack Rhodes, but to do so, he's going to need massive machines of war. With Alexander the great's innovations, Demetrius bolstered and scaled them up. (This guy was known as the "Besieger" for his skill in siege warfare)
Demetrius invents and has the Helepolis built, a massive rolling tower on wheels.
The Helepolis was a great siege tower, 130 feet tall and 65 feet wide. It sat on eight wheels and casters so it could be moved forward and back and laterally as well. It had multiple stories connected by sturdy stairs, one for ascending and one for descending. Its sides were iron plated for fireproofing and had portals that opened when the catapults fired. The Helepolis weighed 160 tons and required hundreds of men to move it via the capstan and belt drive and thousands more to push it from behind.
The Helepolis contained a variety of armaments on each of its nine floors. Two 180 pound catapults and one 60 pounder were on the first floor. The catapults were categorized by the weight of the missile it threw. Three 60 pounders were on the second floor and two 30 pounders on each floor above that. The top two floors contained men armed with bows and dart throwers for killing defenders on the city walls. The tower’s ironclad, mechanically-adjusted apertures were lined with animal skins, wool and seaweed to make them fireproof. The Helepolis was the largest siege tower of its time.
When Demetrius brought the Helepolis to bear, the Rhodians knocked a hole through their own wall under cover of night where they expected the Helepolis to attack. They then flooded the entire area with water and sewage so when the massive tower was moved up the next morning it became deeply mired in the mud.
Ultimately, the siege failed and Demetrius left Rhodes, leaving behind all of his siege engines. Years later, the Rhodians sold the remains of those siege engines, including the Helepolis, which earned them enough money to build one of the seven wonders of the ancient world, the Colossus of Rhodes.
I suspect it's not mentioned because it requires knowledge, and this is social media.
My degree.
Why? Too less information here. At a age of mid-50s, I can assure everybody that no degree is wasted. The vast majority of my colleagues and friends, between mid-40 and 60, do not work in a job that is immediately connected to their degree. The reasons are various, but all took parts of their education and training and recycled it to work happily and successfully in a different field. Job opportunities sometimes require moving, sometimes even to a different country, and learning languages. If dead poor people can change their life by crossing deserts and mountain ranges on foot, and oceans on wonky boats, with the risk of losing their life and are hated for it - it is possible for those with a valid passport and access to dead cheap flights to find a well paid job, too.
Amen! I went to school for web development. Never became a web developer or web designer - but now I work in marketing, and a large part of my job is….website administration 😊 which I wouldn’t be able to do nearly as well if I didn’t have such a good understanding of how the internet/websites/browsers work!
Load More Replies...No, your degree was not a waste... DOE underwriting EDU Inc so you could go is the waste. 80's and 90's... "Get a degree, get a degree", when in reality any trade cert you got, you would be in the catbird seat right now due to the boomer exodus.
The question is" Who threatened to kill your cat unless you went to college and who twisted your arm to get you to chose your major?"
Ford Motor Company spent $250 million dollars on the Edsel, only for the brand to be an unmitigated failure. That's $250 million in 1958 money. Adjusted for inflation, that's $2.6 billion today.
Some people love Edsels now. My uncle has one that he spent years restoring. He is a member of the Edsel Owners Club and takes his car to their annual convention every year.
The 1958 Ford Edsel failed and wasted money because of modern EVs?
Load More Replies... Cleveland Browns paying $250 million for Deshaun Watson.
Brotonio:
So, storytime for non-Americans who don't know who Deshaun Watson is and why that number is so awful:
The Cleveland Browns have long been one of the worst teams in the NFL. Several years, they finally made it back to the playoffs, thanks to the effort of one Baker Mayfield, another quarterback.
However, Browns front office for some dumbass reason didn't want to retain Mayfield, and so decided to spend a $230-250 million dollar contract on Deshaun Watson, as well as include several draft picks in that trade. At the time, Watson had been a quarterback for the Houston Texans, and in his prime was seen as a generational talent who could take a good team a Super Bowl.
AT THE SAME TIME, allegations of sexual assault were springing up against Watson, totaling 20+ women. It doesn't matter if he was the best QB in history, that's awful PR and pissed off the entire NFL fanbase. Still, the Browns paid for him.
Cut forward to 2025, and Baker Mayfield was able to make it to the playoffs with his new team Tampa Bay Bucaneers (even though they just lost), and Deshaun Watson has played F**KING AWFUL FOOTBALL.
He's genuinely one of the worst quarterbacks out there, had been suspended for 11 games due to the allegations, and taken numerous major injuries since getting signed (his most recent one tearing his ACL, which knocks you out for the season.)
Before the Watson trade, the Browns were seen as a team people pitied, because it felt like they could never catch a break each and every year. Now, they are a reviled fanbase, and I don't see their reputation ever recovering until every single person involved with that trade is fired and out of the organization.
TL:DR: The Cleveland Browns replaced their already good quarterback Baker Mayfield with an alleged rapist in Deshaun Watson for millions of GUARANTEED dollars, only for that QB to be absolute ass.
Small edit/ addition: His contract is FULLY GUARANTEED. The only way for the Browns to void it is if he either medically retires, or he's convicted/ accused of another sexual crime OUTSIDE of the 20+ they knew about before he was signed.
I think I can possibly speak for a lot of the non-Americans here when I say that we really, really don't care.about the money. The SAs are a different matter.
While I hate the Browns intensely (Bengals fan), and agree that Watson's contract is a massive mistake, I will take issue with the part about Baker Mayfield. While he did get the Browns to the playoffs, and had a very solid season he hardly set the world on fire. It was his only playoff appearance with the Browns in four seasons. And his numbers dropped off after that. He's definitely had a resurgence in TB, but you can argue whether that means he was held back by the Browns or vice versa. But yeah, Watson is one of the worst signings in NFL history, financially and morally. As an aside, there are rumors Watson was engaged in some type of conduct that his contract prohibits (motorcycle riding, basketball, etc.) and the Browns may try to get out of it.
You have to really care about a bunch of overpaid entertainers to give a sh!t.
When Mobutu decided to print Zaire money, but the cost of print turned out more expensive than the total worth of the printed money.
In the US, it costs 3.07 cents to make a one cent coin and 11.54 cents to make a five cent coin.
Not the dumbest but a personal favorite of mine.
The US military spent hundreds of millions developing the XM-29 rifle. It was basically a grenade launcher with some extra bells and whistles. They wanted it to replace the M-16 so every grunt would be carrying one.
In a shockingly unshocking turn of events, that's a freaking war crime. 300+ million dollars later and a single Google search could've prevented it.
I don't think that "being a war crime" is of any interest to many military leaders, the US inclzded. They opted out of the ICC under Trump 1 and even threatened to invade the Netherlands if US military would be on trial of that court.
US has never been part of the ICC. All Trump did was remove US from observer status. The US has never considered itself subject to any international court. Even the financial ones it created.
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Jeff Bezos' $42M clock that will allegedly run for 10,000 years.
10,000 years is also the time interval between bathroom breaks granted at Amazon warehouses.
The British Royal Family.
The British royal family as we know it is a mid 20th century invention. The thing is, it's not actually that expensive to run, and is part of a constitutional setup which has evolved to provide stable government (sort of) with some sort of over-riding safeguard in case the actual people really in charge go mad (sort of). The UK doesn't have anything like "Air Force One" and so on as provided for the president of the US, for example. And while the president of the USA can order a nuclear attack all by himself, the UK PM can only *request* such a thing from the Joint Chiefs of Staff. If they think the PM's gone mad, they can appeal to their commander in chief - the monarch - and get things sorted out all nice and legal and proper. We've got a mad system of government here in the UK, no doubt about it, but somewhat safer than the USA, I feel.
Load More Replies...They bring in a net benefit to the UK economy. Figures vary, but one I saw says they cost just over £300 million, and bring in £1.766 billion.
The trillions we spend every year to make entertainers, sports figures, gamblers, Las Vegas, billionaires, politicians, etc even wealthier
Agreed. No sportsman is worth in a week what I earned in a lifetime (and I was well above average salary).
Load More Replies..."war on d***s" How bloody pathetic is that Puritanical kneejerk censorship? You should be ashamed that you can't use perfectly normal words in your posts. And later you censor the words "kill" and "heroin." Who is moderating these posts - a geriatric nun? It's absurd, and making me leave the Panda behind as a spineless puddle of weak-willed froth.
Irish government spent €330,000 on a bike shelter for 18 bikes. €330,000 euro on a f*****g bike shed
The trillions we spend every year to make entertainers, sports figures, gamblers, Las Vegas, billionaires, politicians, etc even wealthier
Agreed. No sportsman is worth in a week what I earned in a lifetime (and I was well above average salary).
Load More Replies..."war on d***s" How bloody pathetic is that Puritanical kneejerk censorship? You should be ashamed that you can't use perfectly normal words in your posts. And later you censor the words "kill" and "heroin." Who is moderating these posts - a geriatric nun? It's absurd, and making me leave the Panda behind as a spineless puddle of weak-willed froth.
Irish government spent €330,000 on a bike shelter for 18 bikes. €330,000 euro on a f*****g bike shed
