Category Archives: Economics

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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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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China & USA debt


This week on Facebook:  Posting an article on ‘Xi Jinping’s Vision for Global Governance by Kevin Rudd’, prompted a colleague in the USA to remark that perhaps China was not as financially stable as was assumed and that the tariffs introduced by President Trump are to China’s disadvantage. Another colleague in the USA probably shares that view and would add to it the financial, military and political superiority that is assumed by the USA. Yet it the Western World’s hunger for a continuance of their debt based economic growth that led to the post WWII hegemony of the USA is now being challenged by China. Read more of this post

China Brazil a perspective


This week on Facebook: I  often publish pieces that I am sure will be of little interest to whomsoever may read my articles, and so it is with this piece that I was drawn by some remarks that were made to me. I have written elsewhere about China’s ‘Belt and Road’ initiative and made frequent references to the Chinese Premier Xi Jinping. I am of the view that the Western World who — when they think about non-fictional history all — have a superior attitude regarding their global influence. This may have been justified prior to the advances in technology, essentially computerisation, the internet and other advances in IT, but not any longer. Read more of this post

Cassandra on Money & Debt


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Which Fossil Fuel?


Sunday on Facebook: My wife reads the daily newspaper, once described by the Duke of Edinburgh as being “Bloody Awful”. I have eventually been persuaded to change my car and find that my wife is opposed to vehicles that use diesel for fuel. No! She’s not a rabid environmentalist, my eventual research into why she holds such views turns out to be the reality of banning fossil fuelled ‘new cars’ in 2040. Any ban on new vehicle fuels is likely to apply to all fossil fuelled vehicles. Being driven by a ‘political hope’, or perhaps more aptly — by ‘political wishful thinking’ — that the energy source of declared environmentally friendly powered vehicles will not ultimately create a comparable amount of environmental pollution.  Read more of this post

Cash is subversive (2)


The following is a brief extract from ‘Big Brother Loves You!’ by Detlev Schlichter in which he rails against fiat money and the creation of debt something that I touched on in A Universal Debt. Commenting on the trend towards interventionist policies and assertive state action, The Economist and the Financial Times talk of the trend towards ‘repression’ and ‘national capitalism’ in crisis management. The public believe that greedy bankers and ‘unfettered capitalism’ brought about this crisis. Yet cheap credit through state fiat money and the systematic subsidisation of the housing market, are not features of the free market but of politics. Read more of this post

Inequality & Economic Growth


This week on Facebook: While listening to a lecture by John Maynard Keynes the famed economist, Peter Drucker realised that Keynes and all the brilliant economics students in the room were interested in the behaviour of commodities while he was interested in the behaviour of people. An epiphany that would eventually lead to his career as a management consultant. Nevertheless, both sought an approach to economic growth that addressed income inequality without advocating that income be distributed equally. Read more of this post

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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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