WHY GOVERNMENTS BORROW MONEY; QE – Japan World Champion in Government “Debt” – Govt “Debt” to GDP Ratios A False Formula – The USSR Versus China – A Comparison of Communist Systems - [06-04-24]
WHY GOVERNMENTS BORROW MONEY; QE – Japan World Champion in Government “Debt” – Govt “Debt” to GDP Ratios A False Formula – The USSR Versus China – A Comparison of Communist Systems - [06-04-24]
I think that Boom has caught the Modern Monetary Theory (MMT) fever that has enveloped all financiers in the Western World. I subscribe to the Wilkins Micawber view of finance:
“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”
― Charles Dickens, David Copperfield
You can wrap up the UK's £3 Trillion debt in any fancy way that you like but it still has to be paid back at some time. A debt is a debt.
I concur. I mean if there is a failure in meeting bond payments - regardless the origin of the funds, then does that not spell "collapse"?
MMT is a pipe dream of nefarious entities because while on paper some might think it makes total sense - ALL DEBTS MUST BE PAID....so like many things the concept of MMT is just another tool in the nefarious tool-wielders playbook of trickery and harm.
In other words - no entity can spend more than it has long term...the books must be balanced says Lady Libra - and she suffers no fools.
Neither money nor currency grows on trees - but products from trees have value - imaginary money and imaginary currency if they are "fiat" with faith lost in underlying entities are WORTHLESS - and seems things are coming to a head presently.....best to be prepared with skills and physical items of value than to be the owner of worthless fiat evident.
All so very true Ken, but BOOM is playing in the fantasy world of fiat - which like Ponzi can be enticing at first! LOL. I share your sentiments which is why I have downsized to a 'boat-on-land which is how I learned to live at sea all those years.
So many "few" have so much fiat, they don't even know what to do with it, and orders of magnitude more have nothing - not even a roof over their head stable nor a good meal reliable - being it takes so many more for those so many addicted to fiat illusionary - faith is lost no doubt and where is the joy in being addicted to imaginary currency and having so much upon the breaking backs of brothers and sisters who have so little?
Better and best to be free of debt individually and collectively, and to produce products of value individually and collectively that have true value in the real world. Products that give fulfillment in producing and make life better for the community working together.
I cast no dispersions upon other individuals absorbed in the world of "high finance" and banker dreams, but it seems to me they are on a path of destruction for humanity because - all debts MUST be paid - and to live beyond ones means at the expense of others is equivalent to a "lie" as well as "theft" upon the everyday man and women. Don't lie and don't steal seem to be some basic rules we all ought be able to agree upon - but nevertheless, the lies, the theft, and for that matter the killing continues unabated.
Hard lessons are on the way - nefarious entities are slowly but surely being called out.....I mean I read this today and while it comes as no surprise to me, it does suggest we are at a turning point and there are two paths to take - one path is true and the other path is full of deceipt, theft, and death. Tis harmful and fatal to humanity.
All agree Ken, maybe the concept derived from the biblical idea of the year of Jubilee, the 50th year. In the Jubilee Year as quoted in Leviticus, those enslaved because of debts are freed, lands lost because of debt are returned, and community torn by inequality is restored.
Yes, Ken - "Debt jubilees date back at least 4,000 years to ancient Sumer, Babylon, and other areas of western Asia. Ancient kings would sometimes forgive societal debts as a matter of public stability, and some of them put the practice into law at regular intervals or triggered by certain catalysts"
Does this remind you of today, Ken?
"In Athens 594 B.C., according to Plutarch, ‘the disparity of fortune between the rich and the poor had reached its height, so that the city seemed to be in a dangerous condition, and no other means for freeing it from disturbances seemed possible but despotic power.’
The poor, finding their status worsened with each year, the government in the hands of their masters, and the corrupt courts deciding every issue against them, began to talk of violent revolt. The rich, angry at the challenge to their property, prepared to defend themselves by force. Good sense prevailed; moderate elements secured the election of Solon (Trump?), a businessman of aristocratic lineage, to the supreme archonship.
Solon devalued the currency, thereby easing the burden of all debtors (although he was a creditor); he reduced all personal debts, and ended imprisonment for debt; he cancelled arrears for taxes and mortgage interest, he established a graduated income tax that made the rich pay at a rate twelve times that required of the poor; he reorganized the courts on a more popular basis; and he arranged that the sons of those who had died in war for Athens should be brought up and educated at the government’s expense. The rich protested that his measures were outright confiscation; the radicals complained that he had not redivided the land; but within a generation, almost all agreed that his reforms had saved Athens from revolution."
"which, by the way, had been precariously weakened by rampant fraud in the US commercial and investment banking sector"
i wrote about this yesterday:
rampant rent increases, it is quite simple mathematics. AI stock robots, have in 10 years increased the worth of the US housing market from 400 trillion to 400 quadrillion. the algorithm they use is the following:
1) people want to live in large cities, because that is where the jobs are at.
2) more people are born all the time
3) build too little housing
4) this means people will fight for housing, because they cant get a job. so they will pay more and more for somewhere to live.
AI stock robots trade for $0.01 of a stock every few milliseconds, over and over, to eachother.
since no one can keep track of that, they have eventually increased the worth by 10000% over 10 years.
"A*B*C=X, if X is less than the cost of a recall, we dont make one" - fight club.
in sweden on the newsreports, they always mention the cost per square meters of apartments in inner-city stockholm. they always increase. it started happening maybe 10 years ago.
i guess i could make a formula from it, but id have to think so much my brain would probably explode.
anyway, this is from a documentary i saw some years ago. they didnt say that the stock robots were bad, just that "nobody understands the stock market anymore", but it was readily apparent if you read between the lines.
it seems to be about "high liquidity" and "high-frequency trading". i checked the comments, and someone asked some questions, and later thanked the videomaker. but the videomakers reply got deleted. something fishy...
I think that Boom has caught the Modern Monetary Theory (MMT) fever that has enveloped all financiers in the Western World. I subscribe to the Wilkins Micawber view of finance:
“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”
― Charles Dickens, David Copperfield
You can wrap up the UK's £3 Trillion debt in any fancy way that you like but it still has to be paid back at some time. A debt is a debt.
I concur. I mean if there is a failure in meeting bond payments - regardless the origin of the funds, then does that not spell "collapse"?
MMT is a pipe dream of nefarious entities because while on paper some might think it makes total sense - ALL DEBTS MUST BE PAID....so like many things the concept of MMT is just another tool in the nefarious tool-wielders playbook of trickery and harm.
In other words - no entity can spend more than it has long term...the books must be balanced says Lady Libra - and she suffers no fools.
Neither money nor currency grows on trees - but products from trees have value - imaginary money and imaginary currency if they are "fiat" with faith lost in underlying entities are WORTHLESS - and seems things are coming to a head presently.....best to be prepared with skills and physical items of value than to be the owner of worthless fiat evident.
All so very true Ken, but BOOM is playing in the fantasy world of fiat - which like Ponzi can be enticing at first! LOL. I share your sentiments which is why I have downsized to a 'boat-on-land which is how I learned to live at sea all those years.
So many "few" have so much fiat, they don't even know what to do with it, and orders of magnitude more have nothing - not even a roof over their head stable nor a good meal reliable - being it takes so many more for those so many addicted to fiat illusionary - faith is lost no doubt and where is the joy in being addicted to imaginary currency and having so much upon the breaking backs of brothers and sisters who have so little?
Better and best to be free of debt individually and collectively, and to produce products of value individually and collectively that have true value in the real world. Products that give fulfillment in producing and make life better for the community working together.
I cast no dispersions upon other individuals absorbed in the world of "high finance" and banker dreams, but it seems to me they are on a path of destruction for humanity because - all debts MUST be paid - and to live beyond ones means at the expense of others is equivalent to a "lie" as well as "theft" upon the everyday man and women. Don't lie and don't steal seem to be some basic rules we all ought be able to agree upon - but nevertheless, the lies, the theft, and for that matter the killing continues unabated.
Hard lessons are on the way - nefarious entities are slowly but surely being called out.....I mean I read this today and while it comes as no surprise to me, it does suggest we are at a turning point and there are two paths to take - one path is true and the other path is full of deceipt, theft, and death. Tis harmful and fatal to humanity.
https://www.sott.net/article/491978-The-child-snatchers-Olena-Zelenska-Foundation-seizes-Ukrainian-children-and-sells-them-to-British-pedophiles
Hard lessons are on the way - stronger forces are coming into play. They play fair and they play to win and they know: All debts must be paid.
As always - time will tell.
Respectfully,
BK
All agree Ken, maybe the concept derived from the biblical idea of the year of Jubilee, the 50th year. In the Jubilee Year as quoted in Leviticus, those enslaved because of debts are freed, lands lost because of debt are returned, and community torn by inequality is restored.
That sounds like a good idea!
I like that - I think there is merit in the concept of a Jubilee. I think it beckons.
Of course, without accountability there can be no Jubilee....it is a delicate matter, but it is a concept with merit.
Yes, Ken - "Debt jubilees date back at least 4,000 years to ancient Sumer, Babylon, and other areas of western Asia. Ancient kings would sometimes forgive societal debts as a matter of public stability, and some of them put the practice into law at regular intervals or triggered by certain catalysts"
Does this remind you of today, Ken?
"In Athens 594 B.C., according to Plutarch, ‘the disparity of fortune between the rich and the poor had reached its height, so that the city seemed to be in a dangerous condition, and no other means for freeing it from disturbances seemed possible but despotic power.’
The poor, finding their status worsened with each year, the government in the hands of their masters, and the corrupt courts deciding every issue against them, began to talk of violent revolt. The rich, angry at the challenge to their property, prepared to defend themselves by force. Good sense prevailed; moderate elements secured the election of Solon (Trump?), a businessman of aristocratic lineage, to the supreme archonship.
Solon devalued the currency, thereby easing the burden of all debtors (although he was a creditor); he reduced all personal debts, and ended imprisonment for debt; he cancelled arrears for taxes and mortgage interest, he established a graduated income tax that made the rich pay at a rate twelve times that required of the poor; he reorganized the courts on a more popular basis; and he arranged that the sons of those who had died in war for Athens should be brought up and educated at the government’s expense. The rich protested that his measures were outright confiscation; the radicals complained that he had not redivided the land; but within a generation, almost all agreed that his reforms had saved Athens from revolution."
https://www.lynalden.com/debt-jubilee/
"which, by the way, had been precariously weakened by rampant fraud in the US commercial and investment banking sector"
i wrote about this yesterday:
rampant rent increases, it is quite simple mathematics. AI stock robots, have in 10 years increased the worth of the US housing market from 400 trillion to 400 quadrillion. the algorithm they use is the following:
1) people want to live in large cities, because that is where the jobs are at.
2) more people are born all the time
3) build too little housing
4) this means people will fight for housing, because they cant get a job. so they will pay more and more for somewhere to live.
AI stock robots trade for $0.01 of a stock every few milliseconds, over and over, to eachother.
since no one can keep track of that, they have eventually increased the worth by 10000% over 10 years.
Thanks Tomas, not sure I understand the math - but it makes common sense to me.
"A*B*C=X, if X is less than the cost of a recall, we dont make one" - fight club.
in sweden on the newsreports, they always mention the cost per square meters of apartments in inner-city stockholm. they always increase. it started happening maybe 10 years ago.
i guess i could make a formula from it, but id have to think so much my brain would probably explode.
anyway, this is from a documentary i saw some years ago. they didnt say that the stock robots were bad, just that "nobody understands the stock market anymore", but it was readily apparent if you read between the lines.
Link Tomas? Please.
oh, like i said, its been some years. i dont keep a list of things ive done online, and i had other accounts then. anyway, i found this:
https://www.youtube.com/watch?v=OPm_EDTrz7Y
it seems to be about "high liquidity" and "high-frequency trading". i checked the comments, and someone asked some questions, and later thanked the videomaker. but the videomakers reply got deleted. something fishy...
Brilliant Tomas, thank you. I have read several books by this author - HFT is explained here:
Flash Boys: A Wall Street Revolt Paperback – March 23, 2015
by Michael Lewis (Author) https://www.amazon.com/Flash-Boys-Wall-Street-Revolt/dp/0393351599
Fishy indeed, they don't want us to know!
AI free is very appreciated!
I try - but it is tempting! :-)