Dendry’s Bet


I changed the last line from ‘on the high street’ to ‘online’!

Aasof’s Reflections

Dendry Machin won a bet and became a capitalist. It may be more correct to say that he became a rent collector and moneylender, both opportunities made possible with his newly acquired capital. Capital that enabled Dendry to become self employed as a rent collector, which provided him with an income and allowed him to preserve capital. It was the money-lending that provided an opportunity for Dendry to increase his wealth by investing his capital and accruing interest on his investments. Like all financial ventures the opportunity was not risk free – quite the opposite – Dendry set upon a very high risk financial venture. He loaned money to the poor.

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The rich will always be with us!


This week on Facebook: My 2009 and 2013 posts both had the title ‘The rich will always be us’, and while this post does not link directly to the High Net Worth Individuals (HNWI) in the Capegemini Wealth Reports¹ it certainly alludes to them. A Deloitte report on those who spend their discretionary income on luxury items² and one from an Oxford Research Encyclopaedia on the luxury business³, are used in this post sharing the title  “The rich will always be with us’. Having written a number of posts on Brazil I have received criticism from my colleagues in the USA regarding Brazil’s uncertain economic growth, especially with the publication of my post on China Brazil a perspective. This time, rather than take what is a complicated global perspective, I have focused on Brazil as a global indicator for the purchase of luxury items.

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The Money Tree


This week on Facebook: Most of those who believe in the existence of ‘A Money Tree’ and particularly those who choose to write about it (either from the political left or right), are not so naive as to believe that the State uses its fiscal policy wisely. The term money tree is used for political effect, yet regardless of political leanings most remain mute regarding the money that grows on it and where it comes from.

The issue of affordability never arises when the proposed spending relates to activities like going to war or bailing out the banks. There Is A Magic Money Tree

Countries like the UK that have their own central bank with which to create and borrow its own currency, claiming that deficit financing is part of a fiscal policy and not a problem as it is only incurred as an investment that is part of government economic policy. Those committed to the political left or right claim that their fiscal policy will encourage economic growth and resolve any deficit financing problem. The State has consistently failed to cover the costs for the future in its management of fiscal policy such that deficit financing always increases the national debt and fails in its social responsibilities.

To paraphrase Peter F. Drucker, it could he said that: The first responsibility of government is to cover the costs for the future. If this social responsibility is not met, no other social responsibility can be met. Peter F. Drucker, The Practice of Management

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The Value of Money


  This week on Facebook: In ‘The Coming Dark Ages?’ I criticised all the articles for failing to point out that (in my view) the prevalence of an economic global hegemony by Western Philosophy relied on a reserve currency in a fiat money world. Money at the centre of globalisation, whether it is trade or war that is the dominant driving force for global economic growth. I was especially critical of the article America enters the dark ages concluding that in my opinion money, war and a rising nationalism, are the most likely harbingers in any coming of a new dark age.
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A Digital Dark Age?


This week on Facebook:  Last week was not referring to the digital dark age but rather to the coming dark age predicted, in my mind,  in a very large part to the philosophies of Thomas Malthus and Professor Albert Bartlett. I wrote about Thomas Malthus in  Malthus and Growth and mentioning both Malthus and Bartlett in Cassandra & Growth, both of which were posted early last year.  Read more of this post

The Coming Dark Ages?


This week on Facebook: Judao-Christian and Greco-Roman values is under vicious attack everywhere, or so the writer of ‘Return of the Dark Ages’ (1) believes. The article seems to be written as defence for the values of Western Philosophy, and yet it is the ethos of this Western Philosophy that suggests its evolving interpretation into the beginning of a new dark age (2). Read more of this post

From A Dark Age to Enlightenment?


This week on Facebook: I thought the term ‘dark age’ to be rather carelessly used recently, especially in the context of Homer and the fall of Troy. The term “Dark Ages” is now rarely used by historians because of the value judgment it implies, although it is sometimes taken to derive its meaning from the dearth of information about the period. The latter being certainly true of the Greek Dark Age (1) between the collapse of the Mycenaean civilisation and the GreekArchaic Period. Perhaps the Greek dark age that occurred between the end of the Bronze Age and the beginning of the Iron Age is the only period in Western history deserving to be called a dark age¹. There really is a dearth of information about this period in Western history, something that is not true about what became to be understood in Western Philosophy as The Dark Ages. Read more of this post

Searching for Troy


This week on Facebook: Last week I suggested that renaming Woody Allan’s 1972 vignette to ‘Are the Findings of Writers and Historians Who Do Sexual Research and Experiments Accurate?’ may have contemporary connections. Of course it may simple be that the internet has allowed us all to take whatever view we may choose regarding history and to even publish papers on such views. Manipulating the truth is not new, even Homer realised that sex and the gods were important in the patriarchal society of the time and portrayed Helen of Sparta as the most beautiful woman in the world — adding a war that divides the gods in their choice of sides. Just a myth or a myth with a hint of reality?

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Searching for Helen


This week on Facebook: I could have given this post the title ‘Everything you wanted to know about Helen but were afraid ask’, however Helen’s escape in Woody Allen’s film vignette has nothing to do with the Helen of Troy, which is what this post is about. Although it has just occurred to me that it may do! Woody Allen asked in his film, ‘Are the Findings of Doctors and Clinics Who Do Sexual Research and Experiments Accurate?’. If we change ‘doctors and clinics’ to ‘writers and historians’, the interpretation of Helen’s role in the Trojan War may have more in common with Woody Allen’s question than we would like to think.
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Cassandra on World Debt


This week on Facebook: I am repeating myself here, in my 2011 post with the title ‘A Universal Debt!’ I recalled, “That someone looked into world indebtedness and facetiously drew the conclusion that The Earth must be in debt to the rest of The Universe. This was because every country in the world had an external debt load (barring about three). Obviously the earth is not in debt to someone else in the universe — unless you are a conspiracy theorist — but it is true that there is a global indebtedness.  What really matters, is not the debt, but the ability to pay off the debt with the interest that the debt accrues and the consequences of any inability to do this.” [sic]

All classes alike thus build their plans, the rich to spend more and save less, the poor to spend more and work less. John Maynard Keynes (1919)

For those of us living in the Western world global debt is something that the majority of its citizens do not take seriously as no end is foreseen to the ever increasing economic growth of the Western world. Today global debt is increased and the global citizenry has increased along with its indifference to deficit finance becoming the norm. Matt’s following cartoon repeats that joke, but as Yanis Varoufakis writes in his book ‘Adults In The Room’, politicians and their financiers are using world debt to ensnare us all in a global plutocracy.

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The Land Is Ours

a Landrights campaign for Britain

The Bulletin

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The Real Economy

Blogs and stuff from Ed Conway

Public Law for Everyone

Professor Mark Elliott

Bleda

Am I my Brothers keeper?

The Land Is Ours

a Landrights campaign for Britain

The Bulletin

This site was created for members and friends of My Telegraph blog site, but anyone is welcome to comment, and thereafter apply to become an author.

TCWG Short Stories

Join our monthly competition and share story ideas...

The Real Economy

Blogs and stuff from Ed Conway

Public Law for Everyone

Professor Mark Elliott

Bleda

Am I my Brothers keeper?

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