Tag Archives: Quantitative Easing

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

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

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

The Budget Deficit – The Record


The role that economic theory plays in the creation of money — even if understood by a government —  is ignored in favour of economic manipulation for the purpose of a fiscal policy. Self interested post war governments have little interest in the social responsibility that Peter Drucker applied to a private enterprise.

“The first responsibility of business is to make enough profit 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 (1954)

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That Odious Greek Debt


Der Spiegel reported in May 2010 that without bribes virtually no foreign company could do business in Greece. In How German Companies Bribed Their Way to Greek Deals, Der Speigel claimed that the money from bribery enriched industrialists, civil servants, the military and politicians.  Read more of this post

Funny Money? (SNAFU)


On Thursday 20th November Parliament will debate ‘Money Creation and Society’ (pdf). This is probably the most important economic debate to precede a general election since the Banking Act of 1844 and one which most politicians would like to avoid. While the majority of the public may not know how money is created, the fact that most politicians do not have any understanding of ‘money creation and how we arrived here’ ought to be of great discomfort to them. These politicians being the very people in control of the economy. Read more of this post

The pound in your pocket.


We all have a notional idea of what money is, ideas that may not extend beyond its existence as the pound in our pocket. We certainly understand the purchasing power of any monies we may have. It would seem that any notion of money only becomes complicated when we talk to economists; who are clearly divided in their views of what money is and what form it should take. An economist would want to us to be more precise about our idea of what money is. Read more of this post

Debt and Taxation


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.

“The first responsibility of business is to make enough profit 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 (1954)

Read more of this post

The rich will always be with us (2013)


The rich will always be with us (2009) reported that the worlds High Net Worth Population had reduced to 8.6 Million with their share of the worlds wealth dropping to only $32.8 Trillion.  The net wealth of these High Net Worth Individuals (HNWI) was only expected to reach $48.5 Trillion by 2013, a mere 44% growth over a three year period. 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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