Tag Archives: deficit
January 13, 2018Posted by on
This week on Facebook: Is yet another leader to my thoughts on global economics and how they are likely to effect the common man. Last November I posted ‘Trouble in Paradise?’ followed by Ethics and the Law and on New Year’s Eve I posted ‘Tax Havens: A Red Herring?’, introducing last week’s post EU & Tax Havens. This week introduces tax haven revelations as the precursor to the notion of a global economic war. Read more of this post
December 31, 2017Posted by on
November 18, 2017Posted by on
This week on Facebook: Blissful ignorance, Tax Havens and the Paradise Papers —
To each his suff’rings: all are men,Condemn’d alike to groan,The tender for another’s pain;Th’ unfeeling for his own.Yet ah! why should they know their fate?Since sorrow never comes too late,And happiness too swiftly flies.Thought would destroy their paradise.No more; where ignorance is bliss,‘Tis folly to be wise.
September 2, 2017Posted by on
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
February 25, 2017Posted by on
This week on Facebook: I keep getting economic reports that any money I may hold is in danger and that those who want to take it from are my government. That my government should seek innovative means of creating inflation is hardly a surprise, the government’s (apparent) wish dispense with money altogether and make all fiat money digital is news. Although digital money is not new concept and in todays economy is synonymous with debt, the trail blazed by a digital money economy will be complex. Not in the least — I believe — because it will lead to greater debt having to be borne by the taxpayer. In a world scramble for economic growth any public administration where all money is digital in form will find it easier to devalue their currency in a sleight of hand inflation, especially when engaged in a currency war to promote economic growth. Read more of this post
January 14, 2017Posted by on
This week on Facebook: Just before Christmas I commented on an article posted on Facebook [see Facebook — The Nation] — not something that I do very often as comments on the election that resulted in Donald Trump being nominated President of the USA and the outcome of the Brexit referendum are for the most part simply (to my mind) the ravings of the disaffected. In this case I did listen to the related podcast giving rise to the leader by Robert Reich: Why Republicans Are Wrong About Taxes, commenting that Robert Reich may well be wrong. Read more of this post
November 12, 2016Posted by on
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. Read more of this post