Tag Archives: budget deficit

Wealth & Prosperity


This week on Facebook: Is prosperity and wealth the same thing I asked myself a year ago and concluded that it depended on how you defined each word and who that definition applied to:

Oxfam thinks that $8-coffee-drinking millennials with student debt are amongst the world’s neediest and they are if you define wealth without taking into account its context. A millennial who can indulge in an $8 cup of coffee may not be wealthy but is certainly prosperous. The Scramble for Growth! (Aasof’s Reflections)

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EU & Tax Havens


This week on Facebook: My Facebook Newsline in the year 2017 had more than its share of articles (often), memes (more often) and ‘shares’ (even more often) on the consequences of leaving the EU. I declared my ambivalence towards the EU a long time ago and didn’t vote in the Brexit referendum (nor in the consequential general election). I found the implied portrayal of the EU as a light unto the world as disingenuous a representation as that of the notionally democratic regime offered by Brexit.  Read more of this post

Tax Havens: A Red Herring?


Today on Facebook: Humour? Enough already — tomorrow (Monday) is the first day of the New Year and may 2018 be a prosperous one for you all! Read more of this post

MPs’ Pension and Yours


This week on Facebook: Having decided to delve into the realm of pensions it came as no surprise to discover that politicians spend a great effort on their own sinecures but compound the self created pensions dilemma that successive governments have imposed on others. Read more of this post

Fiscal Policy and the NUM Pension Fund


This week on Facebook: Last week’s post was about pensions  and the political fiscal chicanery that successive governments have adopted to steal pension funds and hide their connivance in keeping public sector pensions ‘off the books’. On Sunday I posted a short exert from the television series ‘Yes Minister’, which indicates that the public sector pensions deficit is not a new political issue. What is rarely written about is the financial burden of the funds required to service the pensions of politicians, but perhaps more importantly, how the pensions and contributions of politicians are not subject to the same vagaries as other pensions. Read more of this post

Cassandra on Pensions


This week-on-Facebook: As a retired civil servant, though not in the same league as Sir Robert (Tuesday’s  article), I have long thought that the whole pensions system — particularly that of public sector pensions — was a train wreck waiting to happen. Successive UK government consistently deferred this  forthcoming train wreck in the hope that it will not happen while they are in office, perhaps even hoping for deus ex machina. Read more of this post

It’s only money!


This week on Facebook: Trying to use last weeks post on Criminals & Taxation as a link to those that may follow at some point proved to be very difficult, the reaction of a public administration’s response to economic failure is more akin to investigative journalism than a short, singular, post. So this week I focused a little bit on factors relating to Government economic policy, with particular reference to Social Security and taxation in the UK. My post last week last week illustrated some of the financial disasters that can occur when a public administration overreaches its level of competence. In an earlier post on Debt & Taxation (2013) I began: ‘The role that economic theory plays in the creation of money and the role played by all politicians in the manipulation of economic theory for the purpose of a fiscal policy, bear little relationship to the social responsibility that Drucker applied to a private enterprise.’ Read more of this post

Criminals & Taxation


This week on Facebook: Sometime in July I read that the fraud scandal carried out at Lloyds bank took the police six years to investigate at a cost £7 million (excluding the cost of the trial). The case was dealt with by the Serious Fraud Office (SFO) which, regardless of its successes and failures, as part of the public sector, has an impact on a seemingly inexorable budget deficit. It was only casually reading about the Lloyds bank case that I decided to research some of the government’s financial losses¹ for which no one, and especially not a politician or apparently any other public servant is ever held responsible. Certainly some investigative journalism usually results in a story reaching the public, it may even create a furore for a time, but the government know that any furore will eventually subsided and its cause forgotten. Yet if you are taxpayer, and even if you are not, any financial loss by the government has an impact on your well being. For a right or left leaning government, such financial losses become an excuse for increasing government debt and austerity measures. Read more of this post

Cryptocurrency, mercantilism and authoritarianism


This week on Facebook: The rise in value of cryptocurrency may be likened to an economic bubble but it is a bubble created as a result of government debts using fiat money. Last week I wrote about cryptocurrency bubbles and money and four weeks ago about the rising cryptocurrency, which led me to conclude that this is more than a speculative bubble. The rise of cryptocurrency is likely to have far reaching consequences regarding today’s governments and the money supply it attempts to control. Read more of this post

All that glisters…


All that glisters is not gold… [The merchant of Venice — Act 2 Scene 7]

Finding an article that included a simple link to cryptocurrency in support of my linking sixteenth century Spanish bullion to modern mercantilism and the desire of a sovereign power to maintain authority over what is now its fiat money was difficult. I eventually concluded that I had write my own. Debasement of the currency is the inevitable result of abandoning a monetary standard¹ that limits the money supply (or commodity money), giving credence to Keynesian economics and Modern Monetary Theory (MMT)². Read more of this post

The Land Is Ours

a Landrights campaign for Britain

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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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