This week on Facebook: With the election of new President having taking place in the USA on Tuesday and the global obsession with the outcome becoming a reality, I didn’t expect my articles to be widely read. So: belonging to the economically obsessed group, I posted reprises on some of my past observations. However I am not an economist or financial advisor, nor do I claim to write with any personal professional authority.
I have thought that I should post on such matters as Cassandra – a metaphor for cases of valid alarms that are disbelieved — and just maybe, a Trump victory in the USA presidential election will bring some reality to global economics. As painful and inflationary as that may be this global economic bubble has to burst sometime.
Monday 7 November 2016 Other People’s Money (January 2012): A compassion fatigue point seems to have been reached in this crises. Self interest amongst those who contribute to a tax revenue input stream, and governments that distribute it, have turned compassionate perceptions of benefaction into frugal perceptions of munificence.
Tuesday 8 November 2016 Debt, the prolific mother (December 2012): Inflation is a requirement for the Debt Based Economy, this is how governments keep putting off the day of reckoning by inflating the debt away and then borrowing more money to service the debt interest which is why virtually all money in an economy is debt money that will never be repaid.
Wednesday 9 November 2016 Money money money (January 2013): “Is it not quite illogical, indeed indefensible, that the state should be so concerned to maintain its sovereignty in the issue of coins or notes that it allows this new form of money, used overwhelmingly today, to be created outside its control”? Lord Beswick, HANSARD, 27 November 1985.
Thursday 10 November 2016 Debt and Taxation (November 2013): Inflation benefits the debtor, in that inflation allows the debtor to repay previously borrowed ‘good money’ with (inflated) ‘bad money’. It always penalizes the holders of fiat money in that it always erodes its purchasing power. If any fiat income does not keep pace with ‘real inflation’, it has the same effect as reducing that income, be it a tax revenue income stream, a salary, a pension, a welfare income, or fiat currency savings.
Friday 11 November 2016 The pound in your pocket (February 2014): The purchasing value of that money available for spending and saving, after income tax deductions (disposable income) and that available after all personal debts, including the mortgage, have been paid (residual income) is always apparent. Having purchased what we consider to be all our ‘necessities’, we may be left still musing over that pound in our pocket (discretionary income).
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