Friday, 19 May 2023

Money, money, it's just so funny....Not

Just in case you thought everything was great then you have not heard the latest wonderful news from the US? Their debt ceiling might have to be £30+ trillion dollars? Eh? That is thirty million million million dollars. Excuse me, who is running that show? $30,000,000,000,000,000,000 debt. Well, that puts my own debt with the bank in some perspective. Just wondering what the US banks charge for all of that? It’s just mind boggling. What is more worrying is this – when such a ceiling will collapse, as it will, then what? We are always talking about how wonderful it is to live in a free world but is it really free when we are shackled by such debt? It is not just the US, Europe is just the same, in fact all countries seem to be burdened with debt. So, a good question to ask is who pays for all of that? Well, in a way it is you and me. We might save some money in some sort of a savings account (if we are lucky!) and the savings banks and others will invest that in government bonds hoovering up some interest. For now it makes sense but as we see it can just get to be a type of self-destruct button. Governments just cannot seem to be able to control their budgets. Obviously not everyone is a financial wizard but you would have thought that those who put themselves forward for government know at least the rudimentary rules of money. The way it moves. If we look back at 1929 when people just lost all sense, borrowed money to buy stocks in the hope of making a quick profit and then it just takes one player or so to issue a warning and when people then lose their courage all hell will break loose. 

Similarly today, to finance all the governmental borrowing, stocks like bonds have been issued, billions or even trillions of them. Obviously, these earn interest but investors can sell them. See the correlation? On top of all that the economic outlook also is not too bright. When you read reports that BT (British Telecoms) is planning to shed 55,000 jobs by the end of this decade, one needs to start worrying! All due it said, to AI (Artificial Intelligence). OK, if that is the case they will not be the only industry who will shed jobs. The point is this – are our elected nimbys (MPs) actually aware of these impending disasters? Probably not, they are too busy trying to figure out what a woman is. 

When ordinary secondary schools are forced to have unisex toilets that must not show ‘male’ or ‘female’ indications then I want to check the availability of a one way ticket to the Mars colony – when it is built. It is no wonder that the suicide rate of young people is increasing. In my own backyard in the Rhondda Valley we have heard recently of three, all happening without known reasons. This sort of thing was unheard of in past times. I would say to parents generally, ensure your children will be of a good standard of education. Be aware of what is actually happening in the world. Don’t listen to the inane ramblings of politicians or even take the news reports too seriously. There is just too much fake stuff around as well as propaganda. So be careful, the crocodiles and tigers are circling. It is the Wild West out there.

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