Tag Archives: national debt

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

Plus c’est la même chose.


This week on Facebook: There was a General Election in the UK on Thursday and perhaps for the first time in my life I found myself with a real justification for seriously declaring myself to be an Anarchist. I spoilt my postal voting slip on the basis that non of the candidates represented a leader that I would choose to be the next Prime Minister. It seems to me that the commonality shared by all the candidates and especially those who won the election (regardless of their political affiliations) will be increased government debt. Despite their declared political diversity, the party assuming power will inevitably rob Peter to pay Paul. The electorate — certainly on Facebook — thought that it was faced with a choice between conservatism and increased wealth for the few versus socialism and increased wealth for the many, when in my opinion the electorate was faced with the undeclared totalitarianism that both offered at the hustingsRead more of this post

Plus ça change


This week on Facebook: My five reprises this week reflect the epigram Plus ça change, plus c’est la même chose. The epigram is probably familiar to most of my generation and needs no translation (Google it), but perhaps some of my family may read my reflections so it was a somewhat cynical remark that translates as, “The more things change, the more they stay the same”. Jean Baptiste Alphonse Karr (1808-1890) wrote this epigram in the January 1849 issue of Les Guêpes (“The Wasps”), the year following the European 1848 Revolutions.  A number of broadsheets¹ at the time extolled or attacked the presidential candidates General Cavaignac and (most of them) Louis-Napoleon, both of whom Karr described as Les Guêpes.

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Assignats and Reprises!


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

USA: The budget (a history)


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

Cassandra


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

Fleeced Again!


This week on Facebook: Being somewhat surprised by the scale of the political incompetence (although political connivance would fit equally well) that I came across in last week’s article on pensions, I decided that this week I would look a little deeper. I found that the sorry saga continues with perhaps the only positive slant that could be put on it would be that of politicians caring for their own stipends.  Read more of this post

Points about Hinkley


This week on Facebook: A conversation with a friend drew my attention to Hinkley Point and the cost. In researching the cost of what is termed Hinkley Point C nuclear reactor the estimated construction costs alone are running at £18 billion and rising. Finding an estimated overall project cost on Hinkley Point C nuclear reactor — from conception to decommissioning — is very difficult as those financially involved in the project are quite coy about pricing. Read more of this post

Helicopter Money


This week on Facebook: Sees me return to economics, yet more history and the despair of an old man who — like all old men before me — thinks that the world is going to hell in a handcart. My first instinct was to ignore articles on helicopter money as it being something that I was incapable of having an influence on (which is true) and finding myself totally confused by the rationales offered by economists and politicians. Nevertheless, the notion of helicopter money made me think of some historic precedents that I believe are valid allusions to its use. Read more of this post

Green and Fiscal Ineptitude


This week on Facebook: The media are full of self-righteous indiction about Sir Philip Green and the BHS scandal, particularly when taking some moral high ground on the issue. Successive governments have always use other people’s money to fund their fiscal profligacy be it financiers or taxpayers, while those in government remain financially immune from their own ineptitude. Their financial consequences are avoided by governments, their financial advisors and bankers placing an ever increasing burden on the taxpayer. Governments run budget deficits that can never be large enough to repay the national debt but large enough to cover interest payments on monies borrowed (at least at the moment — countries do default). This borrowing includes the issue of gilts, the government’s legal Ponzi scheme, where future interest is guaranteed by yet another burden on the taxpayer. Read more of this post

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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

Hello, I’m Ed Conway, Economics Editor of Sky News, and this is my website. Blogposts, stuff about my books and a little bit of music

Public Law for Everyone

Professor Mark Elliott

Bleda

Am I my Brothers keeper?

An Anthology of Short Stories

Selected by other writers

davidgoodwin935

The Short Stories of David Goodwin (Capucin)

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