Tag Archives: debt

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

Read more of this post

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.
Read more of this post

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.

Read more of this post

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


Read more of this post

The New Silk Road


This week on Facebook: When I first read about The Great Firewall of China I concluded that it was a model that most States would try to find a way of emulating, the rationale being that it was the first step towards securing the political supremacy of a governing oligarchy under the pretext of a democracy. Now China has launched The New Silk Road¹ (OBOR: One Belt One Road) and notionally democratic governments find themselves not only having to consider a trade war with China, but to seriously consider China’s political model as representative of the future. Read more of this post

Inequality & Technology


This week on Facebook: The subject of global inequality is clearly one that presents a global dilemma in the search for a rational between the inequalities that economic growth has introduced with the advances in technology¹. The latter being this week’s subject as the harbinger of global inequality that is now being experienced by the developed worldWould that it were that simple, but many more factors are involved and while a scapegoat for global economic woes may be desirable, its use is only papering over the cracks that are now being revealed.

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

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)

Read more of this post

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?

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?

%d bloggers like this: