ZOMBIE END GAME - The financial undead continue to drag us down.

The disjointed musings of the financial media support groups and the politicians desperation to patch up the emperor's new clothes again, serve notice that the final act has begun.

The banks have sucked the blood from their governments through a series of bailouts.
The governments have sucked away the lives of their peoples through ongoing and expanding programs of austerity.
They have stolen from multiple generations of the unborn through bond issuance and leveraging so called "stability funds".
Financial institutions are stealing from their depositors as they begin to panic at the glimmer of the bottom of the shiny trough.

The managed retreat has begun.
Treaties are hastily being re-written. Doubtless constitutions, bills of rights and human rights legislations will go a similar way.

All areas of the economy have been fatally wounded. And even the most optimistic commentators are now describing the future misery in terms of decades.

It's a zombie paradise.

WHO ARE THE ANTI CAPITALISTS ? - And who are the bad guys ?

Regardless of your opinions about the rights or wrongs of the capitalist system, it is the capitalists themselves that are behaving in an anti capitalist manner. Far more so than the so called anti capitalist protesters.

It's ANTI CAPITALIST to rig markets and pretend that we are living in a free market system.

It's ANTI CAPITALIST to save banks that are to big to fail.

It's ANTI CAPITALIST to allow banks to become too big to fail.

It's ANTI CAPITALIST to allow banks to create money out of thin air under the cover of the fractional reserve banking system.

It's ANTI CAPITALIST to have a shadow banking system that is unregulated and causes other parts of the financial system to behave chaotically.

It's ANTI CAPITALIST to have targeted import tariffs and limits.

It's ANTI CAPITALIST to set artificially lower interest rates.

It's ANTI CAPITALIST to deliberately allow inflation to take off in order to reduce the impact of commercial and sovereign debts.

It's ANTI CAPITALIST to effectively buy your own bonds through a convoluted system of central banks, shadow banks, monetary funds and rescue/stability funds.

Capitalism in its purest form could just work. The trading of goods and services equitably for other goods and services serve many barter only communities well.

Its time to think about just who the anti capitalists are.

HOW MUCH DEBT IS OUT THERE? - How big will the crash be?

I've been looking at all of the debt figures that are floating around and one thing has become clear to me. Nobody actually knows how big it is. And that is exactly why the so called political experts cannot agree on how big any bailouts should be.

Here are just a few examples of the type of debt that is now out there.

Personal debt. i.e. debt that is tangible and that we actually know about. For instance mortgage plus loans plus student debt plus credit cards plus overdraught. This averages out to about £25,000 ($40,000) per person in the UK.

National debt. i.e. the amount a country owes. This amount is largely in the form of government paper (or bonds). That is to say money borrowed (or stolen) from the unborn. For the UK this currently stands at about $9,000,000,000,000 (9 trillion dollars). If you divide that by the population it equates to around $150,000 per person.

Global debt is the amount that the world owes. That is to say, the sum of all the national debts of sovereign nations. That figure is about $100,000,000,000,000 (100 trillion dollars). If you divide that by the entire human population it equates to about $15,000 per person on the planet. Seeing as the significant majority of the planet could not even imagine that amount of money or have any chance of ever paying back that amount, the debt share will have to be absorbed by 'wealthier' first world people.

Now, there is one more chunk of money that could be owed. It's a kind of insurance scheme known as the derivatives market. These debts never really come into being unless things start to go wrong.

Derivative global debt is thought to have been transacted at a nett value of $1,000,000,000,000,000 (1000 trillion dollars or 1 quadrillion dollars). If (or when) the bubble bursts this debt burden will be repatriated back down along the line to nation states and ultimately individuals.

This is where it gets scary. The sum of all the debts contained within the financial system divided by the world's economically active population is $1,000,000 per head (1 million dollars).

QE2 - In other words, You are being conned again.

Last week, the UK government announced a second phase of quantitative easing. Or to give it it's real name "printing lots more digital money."

It was publicised by the Bank of England as a mechanism to kick start the UKs flagging economy. The idea was that this new money would trickle down from the central bank, to the investment banks, then to the high street banks, then to small businesses as loans and finally to facilitating new jobs and new wages.

What a load of bollocks.

This new money will never trickle down. The sum announced was £75 billion. That equates to about £1,300 for each person in the UK. That new money is yet another lot of new money that will have to be paid back at some future date by you and me.

My guess is that if you are lucky and the usual 90% to 10% rule applies, then you might see about £115 of that new money in your pocket over the next year or two. The other £1,200 will disappear much further up the food chain. It might even be used to save a bank from collapse or just be gambled to zero by hapless city traders.

The point is, the only way to get people spending again, is to put real cash directly into the pockets of real people. Most people (the 90%) have to spend all of their income on basic living expenses plus a few luxuries once in a while. If the new money were directed to the poorest 10%, that money would be spent in the blink of an eye and would continue sloshing around in the lower economy for some time. This would create demand, jobs and compounding VAT revenues.

Either the people at the top just don't get it, because they are so far removed from the realities of ordinary peoples daily lives or they are just plain evil and are pursuing a deliberate program of enslavement.

I'll leave you to decide.

DEBT, DEBT AND MORE DEBT - Your enslavement by numbers.

Here is a list of the top 20 countries in order of their debt to GDP ratios. I have also added a couple of columns showing the average wage in each country and the payback time required if we all worked full time and paid all of our earnings in tax.

Click table to enlarge

Nearly all mainstream political and economic commentators have been making a big fuss about Portugal, Ireland, Italy, Greece and Spain (collectively known as the PIIGS).

Why this focus on these countries in particular. Is it a form of Northern European economic fascism?

Sure, Ireland is in big trouble. However there are some big players up there too. Why are they so quiet about UK, Switzerland, Holland, Sweden and even Germany to name a few.

Going back to the repayment terms, lets take the UK as an example.

George Osbournes austerity measures have caused an increase in tax take and a decrease in jobs and wages equivalent to about 6% (which is a lot for people to deal with). Therefore instead of the 3.34 years payback time the actual payback time is more like 55.7 years.

That 55 year target is coincidentaly the same period of time that people will have to work according the a recent independent actuarial audit on UK pensions. Mmmm! retirement at 73 years old.

The reason why the focus is not on the major Northern European countries is because the credit ratings agencies like Moody's, Fitch, Standard and Poors are in bed with their neo-con paymasters. Its just an illusion.

The war has started and it's almost over before we've even noticed.
Time to reset the clock.  Abandon all forms of capitalism now.

HOW ARE YOU DOING ?

Just a quick graph showing an overview of what has happened to us during the first decade of the new millenium.

Pretty good if you're a corporation or a banker or a speculator or an oil company. Not so good if you're an average Joe who needs a job and uses a car.

A smaller number of employees drawing 5% less wages than 10 years ago has produced a 118% increase in corporate profits.

That's just greedy. Is it any wonder people are beginning to copy the fat cats and just take whatever they want whenever they can?

What's the difference between a politician making multiple expense claims for flat screen TVs and somebody looting a TV shop during a riot?

Answer : The politician gets delivery included.

ROLLING BACK THE LANGUAGE OF ECONOMICS - Part 4 : DEBT

Debt is among the most common words used in the English language today. But what exactly is debt?

That is a harder question than you might imagine.

Most people think of debt as an amount of money that is owed to another person or company. However, over recent decades the new reality of debt has permeated all aspects of our lives through a complex process of financial wheeling and dealings.

Because governments around the world decided to move away from the 'gold standard', all currencies around the world are now 'fiat currencies'. That is to say that the notes in your wallets are no longer backed by a promise to pay the bearers in gold. Currencies have become detached from real assets like precious metals and allowed to fluctuate in perceived value as 'the market' dictates.

This means that ultimately, the value of money only carries a worth equivalent to the confidence that every participant has in the scheme at any particular time.

After the gold standard was abandoned, currencies were allowed to float freely and competitively against each other. Over time, this detachment has caused a psychological disconnection between the value of money and the value of real things. This detachment process has been exacerbated by the introduction of digital money transactions and time stretched credit options.

We all know how easy it is to buy something using a credit card or a bank transfer or paypal. The detachment process has made everyone buy and sell in a new way. The reality only reappears periodically when we get statements, or letters from our banks or overdraft repayment requests or defaults or bankruptcies or credit crunches or sovereign debt crises or world economic meltdowns.

You see, what we were convinced was money is actually now being realised for what it is. Debt. This new reality is true for every layer of the world economy. From the IMF right down to the peasant in Mozambique.

Because we have all participated in the scheme (actively or in some contrived secondary processes), we have all fallen into the same trap. The trap that enslaves us all.

From the federal reserve bankers that print new money (both digitally and on paper) to the idiot buying the latest Justin Bieber merchandise on eBay, we have all just been participating in some form of ponzi scheme based on fractional reserve banking and fractional reserve spending.

Since the 1930's when the gold standard was abandoned the financial processes that have brought us to where we are today, have created a financial system where nobody can begin to calculate how much money is out there (real and digital) or how much debt is out there.

It is estimated that about 99% of all money is actually really debt. That would also account for why prices have increased about 100 fold since 1930. In other words, we are no richer, only 100 times more in debt.

The tipping point is so close now. The curve can go in one of two directions. Either fiat currencies will collapse under their own weight of debt or a rapid consolidation of debt repatriation demands will cause an equal and opposite degree of hyperinflation.

Which way will it go?

It matters not. Either scenario will be a disaster.

CROSSING THE RUBICON - A Paradigm Shift and The Engineer in Me.

Here are a few reasons as to why the world might be entering a permanent new economic reality that will not be pretty.

1. Up until sometime around the year 1800, all species (particularly ours) had little margin for error. Like all other animals we lived up to the limit of the food supply. The populations ebbed and flowed following simple differential equations bounded by the limits of supply of food and numbers of humans.

2. From around the year 1800, fossil fuel exploitation enabled us to rig the market through advances in mechanisation, production and fertilisation. This positive trend could only ever be a temporary one. It was inevitable that the population would increase to exploit this step change in maximum demand possibilities. All that has happened is that the ebbing and flowing wave has a higher amplitude and a shorter wavelength. In other words, things just happen harder and faster. Markets are exaggerated and rich/poor disparities are exacerbated to insane and ugly degrees.

3. Since around the year 1800, the population has increased from 0.8 billion to nearly 8.0 billion.

4. The high demands of 2 centuries of wealthy countries exploitative folly and the recent extraordinary demands of large, fast developing countries have applied a number of ramping functions and a number of extreme pulses to the system. Anybody who knows anything about control systems design or mathematical modelling fears such pulses.

5. Since 1960 the annualised growth in crop yields has fallen from 3.5% per year to 1.2% per year despite the use of oil based fertilisers having been increased significantly. All of this intense farming is clearly destroying the land's potential to re-mineralise itself through natural irrigation and precipitation processes.

6. Politicians and money-markets will never face up to any of the above truths.

7. From now on, price pressures and resource shortages will be a permanent feature of our lives.


All of the above contributed to the financial crisis of 2008 and the subsequent spikes in commodity prices like oil, energy, metals and foods.

Add the following list of potential tipping points to this and we could be looking at the perfect storm.


1. Events in Syria could be the most likely scenario to inflame a full scale war against Israel, in turn, dragging the whole of the middle east into turmoil.

2. It is highly likely that Israel or the USA will wage a war against Iran if Iran escalates its nuclear program.

3. Libya. Does it need an explaination?

4. As the weather warms in other middle eastern countries, more tensions, protests and revolutions are bound to occur. The tipping points have been attributed to democratic awakenings by western media groups. It is more likely to have manifested itself due to spikes in food prices. Spending on food in second and third world counties forms a much more significant share of a family's budget.

5. The tragic events in Japan and subsequent annihilation of the Fukushima nuclear industry has changed world energy policy forever. The abandoning of existing and future fission projects will add massively to the demand for hydrocarbon based fuels for energy conversion needs. The impact on one of the worlds largest economies is sending out financial shock waves across the globe. Economists will un-forget about peak-oil once more.

6. Energy expenditure in the USA has just exceeded 9% of GDP for the second time. The first time was in the summer of 2008, just before the 'global financial crisis'.

7. Austerity programs (you ain't seen nothin' yet) around the globe both nationally and locally are beginning to impact on the jobs economy. This will accelerate as the story unfolds.

8. The much talked about sovereign debt crisis is about to materialise in spectacular fashion. Who will be the first 'fall guy'? Almost certainly Greece, but much bigger names will be in the frame soon after. A tower of cards teetering. The fallout will be truly shocking.

9. The demise of the U.S dollar seems unlikely to most people but watch this space. China bought massive amounts of US treasuries over the last decade. It is now trying to dump these investments on unsuspecting world bond markets at a faster rate than it accumulated them and that was pretty damn quick.


The next few years (or months even) will be very interesting to say the least.

See you all on the other side.

ROLLING BACK THE LANGUAGE OF ECONOMICS - Part 3 : MONEY

Money or currency is one of the most misunderstood ideas.

It used to be that money had an intrinsic value. It contained a specific quantity of a rare earth metal like gold or silver. Even paper money carried a written promise such that the issuer could exchange that banknote for a prescribed amount of gold on demand. This was known as 'specie money'.

However, printed money now carries no such promise. Not since 1971 anyway. It is now known as a 'fiat currency'. That is to say, it has no intrinsic value and its worth can only be determined relativistically with a view to how much of it is in circulation and what demand there is for it.

All sovereign countries now use fiat money. It is printed and issued by 'central banks' like the US Federal reserve or the Bank Of England etc. Of course, these organisation sound very official and they also sound like they are owned by the governments of their host countries. However, nothing could be further from the truth.

They are private banks and they always have been.

The Bank of England was founded in 1694. Even though it was nationalised in 1946, it is still a privately owned company with Directors. This anomaly was formed in 1977 by creating a wholly owned subsidiary company called Bank of England Nominees Limited. This company was granted a special exemption by the Secretary of State for Trade such that it could trade without declaring who the Directors are and using the Official Secrets Act to protect their anonymity. This is wholly unique and a special case when considering the normal legal requirements of The Companies Act.

According to their website, the US Federal Reserve Bank is a government body. However, all of its shareholders (Directors) are private banks. None of its stock is owned by the US government.

These central banks have the ability to print money whenever they see fit. A private company creating money from thin air. They also provide money to their governments in order to make up their revenue shortfall or spending excesses. The government pays interest on these debts. This interests is guaranteed to compound and spiral with time.

The last time the USA balanced its books was in 1835.

A couple of quotes from the past that resonate profoundly today:

Paper money eventually returns to its true intrinsic value - ZERO ! (Voltaire 1694-1778).

If the American people ever allow private banks to control the issue of their currency, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered - (Thomas Jefferson 1743-1826)

ROLLING BACK THE LANGUAGE OF ECONOMICS - Part 2 : STIMULUS

Various Western governments have introduced stimulus plans. These measures have also been called 'quantitative easing' (QE) among other things but basically they amount to printing money.

The mirage created with QE is that the central banks created electronic money out of thin air and used that to buy their own government's bonds. These bonds are basically IOUs and in time the governments will have to repay those debts to the central banks with interest. When the payments are recovered the central banks will then electronically destroy the imaginary money.

This process of printing money causes a devaluation of the 'fiat currency' due to the laws of supply and demand. If you make more of it, each piece of it is worth less.

As the majority of all money 'exists' only in a digital form, it can also be argued that what is actually being printed is digital debt.

The problem with introducing a stimulus is that you have to maintain that stimulus for a significant period as global markets take time to react to the change in the economic system. By maintaining that stimulus, the system can become dependent on it. This happens when a sick person is treated with stimulus drugs. They can soon become addicted to the stimulus and side effects appear. The side effects can be harmful. Even more harmful than the original disease.

These unorthodox processes are hitherto untried and untested, and it is only because it is mathematicians offering these 'solutions' to governments and banks that any credibility at all can be given to the process.

WARNING !!! These are the same breed of mathematicians that sold the financial services industry the ideas of complex derivatives including 'securitization of mortgages' and 'credit default swaps'. Watch out for Global Banking Crisis II, coming to a town near you soon.

ROLLING BACK THE LANGUAGE OF ECONOMICS - Part 1 : INTEREST

This post will be the first in a series of posts that looks at how the use and perception of economic and political language have been changed over time.

INTEREST is a concept that we are all familiar with. Usually because we have to pay interest to banks, credit card companies, shops etc. Sometimes we receive interest on savings or other investments. The word interest comes from the notion that if you borrow for, say a house, your lender will charge you interest in order that you get to buy a house and the lender makes a profit. The lender also has an interest in your property. That is to say that he is interested because if you fail to complete the transaction at any point, that property may be sold. It may be sold for less than the outstanding value of the loan in which case the lender would make a loss. So it is no surprise that he is interested.

Compound interest means that interest is applied on an ongoing basis with respect to time. This causes problems for entities like governments where situations can occur such that the amount repaid in a given year is less than the interest due. In this case the interest will not only apply to the original debt, but it will also be applied to the interest too. Interest on interest.

Compound interest looks like this. If left unchecked, it runs away very quickly. This is due to the effect that compound interest has a mathematical function known as positive feedback.

It works in the same way as acoustic feedback. For instance if a microphone is placed too close to a speaker, the sound from the speaker goes back into the microphone, gets amplified and then comes out of the speaker a little louder. This new louder sound, goes back into the microphone and is amplified again and comes out of the speaker even louder. Effectively the amplifier adds compound interest to the sound each time. After a period if these repetitions, the noise becomes so chaotic and unbearable at which point somebody usually cuts the power to the system.

Another natural phenomenon that follows the same mathematical principle is sickness (i.e. diseases like cancers and viral infections).

As all financial services rely on the concept of interest to make profits, it is advisable to remember the analogies above.

Who's interested now?

It is interesting to note that the texts of the Christian, Jewish and Islamic faiths all expressly forbid the use of interest as the concept is seen as a levy on God's time. However, over time these ideas have been relaxed through a series of reinterpretations.

Nobody can be free of paying interest even if you save up for things before you buy them. Currently, due to the way interest has permeated through all aspects of the world economy via credit markets and commodities markets, about 45% of the price of all goods is used to service the interest on debt held in the supply chain.

Because of the invisible interest that has attached itself to the sales price of everything, most people are nett interest payers. In fact 85% of people are nett interest payers, about 5% of people are interest neutral and about 10% of people are nett interest receivers. In other words 10% of the people receive 90% of the interest that everyone else pays. Doesn't that sound like another more well known statistic. Yes, it is interest that is entirely responsible for the massively uneven distribution of wealth. How can you become a nett interest receiver. Well you just need to have a spare £500,000 hanging around that you don't need but you could invest.

Notwithstanding all of the above, the whole notion of interest is totally flawed. As an example, say that Jesus had deposited 1 penny into a bank account in the year 32AD with an account that would yield a typical long term interest rate of 5% per year. If he had returned in the year 2011 and gone to the bank to withdraw all of his money with interest, that amount would be

£8,582,678,794,222,570,000,000,000,000,000,000,000,000

That amount is difficult to imagine. However if the bank paid out in gold balls at today's gold value, it would amount to 44 trillion gold balls. Each gold ball would be the same weight as planet earth.

A great investment? Yes, but this financial model (INTEREST) cannot work in the long term.

UK TODAY - Where is the good news?

Unemployment rising :
means less tax revenue to the exchequer.
means rising social security benefit bill for the exchequer.
means larger budget deficit.
means social decay / disorder.

Inflation rising:
means reduced economic activity.
means risks to businesses.
means unemployment.

means less tax revenue to the exchequer.

means rising social security benefit bill for the exchequer.

means larger budget deficit.

means social decay / disorder.

Taxes rising:
VAT at its highest ever level at 20%. It never comes down.
National insurance rising in April.
means reduced economic activity.

means risks to businesses.

means unemployment.

means less tax revenue to the exchequer.

means rising social security benefit bill for the exchequer.

means larger budget deficit.

means social decay / disorder.

Public Services being cut:
means less services.
means unemployment.

means less tax revenue to the exchequer.

means rising social security benefit bill for the exchequer.

means larger budget deficit.

means social decay / disorder.

.

Rising education costs:

means high debt for young adults.

means less graduates.

means less skilled workforce.

means lower wages.

means less tax revenue to the exchequer.

means rising social security benefit bill for the exchequer.

means larger budget deficit.

means social decay / disorder.

Vicious Circle = Vicious Government

Educating Slaves !

The British higher education system has been changed drastically over the last 20 years.

When I was a student, I got a full mandatory grant, a discretionary hardship grant, a book grant and heavily subsidised canteen facilities.

After a very comfortable time at college, I left higher education with a useful qualification that enabled me to be flexible in my career choice, not be tied to a corporations dictatorial mandate and I had no fear of debt.

The last 20 years has seen all the benefits that I received, systematically dismantled. These educational rights have been replaced with a system whereby students are leaving education with massive debts.

The jobs that most of these graduates will end up doing, would have been done by similar people with a couple of 'A' levels 20 years ago.

All that has happened is that the jobs market has been fixed in order that a large percentage of the new working population are being systematically enslaved by debt at the start of their careers; at the start of their adult lives; before they can even think about housing, families etc

During the next phase of this program, employers will bring down graduate wages to a median figure of less than £21,000. The feed in interest repayment taper will become a ceiling for employers to exploit.

Fancy a workforce that's too scared to answer back or question management?
Fancy a workforce enslaved by the fear of their own debts?
Then look no further. Employ a graduate today. Or even better employ a cheaper slave in 3 years time.

It's time to wake up !

It's time to take back control !

It's time to change your destiny !

GLOBALISATION - Chickens coming home to roost - ( FROM CLUCK TO FUCK! )

Globalisation has had many critics over the years.

Arguments against the concept include inequality, environmental impact, sweatshops, cultural normalisation, dumbing down through uniformity etc....

However for the majority first world perspective, it has facilitated a perceived rise in standard of living, choice, cheap food, goods and services. All this has become possible through communication advances in interconnectivity across the globe. The whole ponzi scheme is clearly based on convincing people to buy loads of tat that nobody really needs and only really want on the basis of its easy availability, brand marketing brainwashing techniques, availability of cheap credit etc.....

During the 'good times', this interconnectivity offers a dumbed down feeling of well being; an increased happiness quotient and an illusion of being able to buy freedom.

This model is so new that it has never been tested during the bad times.

What could happen if things went bad in the Global Village ? :

Firstly the connectedness of world financial markets means that if an economic boom or bubble emerged, the whole connected world would feed this bubble. This bubble would become bigger than any bubble experienced in the post industrial revolution period.

This bubble could for instance be cheap credit.

The banks may push the envelope by lending to riskier borrowers. They might even lend large sums to people who would have no means to repay.

The bubble might only stretch so far due to finite limits.

A nervousness might set in.

Banks might feel twitchy about the amounts on the wrong side of their balance sheets.

As if by magic the debt has moved from personal loans to private company debt.

They might stop lending to each other.

Credit availability may stall.

Some banks might fail.

Governments might have to rescue banks using hundreds of billions of taxpayers monies. Government might be forced to nationalise banks. In other words Governments would be nationalising debt and privatising profit.

As if by magic the debt has been moved again. From private companies to the public purse.

This might be called sovereign debt.

Interest rates may have to be slashed.

This could cause cash flow problems further down the food chain.

Businesses, large and small, could fail because their creditors refuse to supply goods and services on existing credit length terms.

Unemployment could rise.

Government spending could rise due to increases in benefits, lower taxation revenues, bank bail-outs.

Banks could restrict mortgage lending.

House prices could fall.

Economic growth might fall.

There could be a recession.

Entire countries could get nervous. They might feel that other countries may default on their debts.

They might buy the debt in form of government bonds at higher interest rates.

Their debt to earnings ratios might rise.

Their bond yield spreads might rise.

They might have to print more money.

Their currency may have to be devalued if it has its own fiat currency.

Other countries may drive down the value of their own currencies in order to maintain an export trade advantage.

A currency war could cause uncertainty in equity markets.

Financiers might switch to gold, looking for a perceived safe haven.

A secondary gold market may emerge. There could be high street gold buying shops. There may even be TV ad campaigns asking people to send their jewellery in the post in exchange for cash.

Gold prices could rise five fold or ten fold or ......

A secondary commodities bubble could emerge.

Agricultural commodities could get caught up in this speculative market. As could fossil fuel commodities.

Food and energy prices could be driven higher.

Governments may feel pressurised to accept rescue monies from other countries. There may be strings attached.

Those strings might be an austerity program.

That program may be painful to everyone living in that country.

They may have to take pay cuts.

They may have to cut millions of jobs in the economy.

There could be civil unrest, demonstrations, protests and even riots.

The government's revenues might fall again due to even lower tax revenues.

Economic growth may fall again.

Other countries may begin to falter.

The contagion could spread like a fire.

Firstly it could just be a few kindling republics and small countries.

Then maybe some larger countries may be affected due to their trading reliance with that failed country.

Recessions could turn into depressions.

And then..................................Protectionism.... Hyperinflation.........Nationalism.........War

Sound familiar ?

GLOBALISATION ! Forget the old arguments. THINGS HAVE MOVED ON !

KILLING THE FUTURE - What future ?

Old moneyists and post war families planned their financial affairs both for themselves and the future generations of their families.

This model was similarly adopted by politicians. The thinking was long term.

The babyboomers reduced their depth of field and focussed their efforts on the next generation and only the next generation. Their rallying cry was ' We're doing it for the kids'.

Their offspring focussed on themselves and everyone was living in the moment - Punks, hippies, yuppies. Various shades of exactly the same philosophical colour.

The current generation is borrowing everything from the future in order to slake their insatiable appetite for useless shit today. This version of non-planning applies personally, locally, nationally and globally.

Where next? There is only one place beyond the future. The End !!

UK DEBT – Myth, legend and reality.

Everyone is being conned regarding the scale of our economic problems.

All political parties and the media constantly talk about the debt and the debt reduction plan.

The austerity budget has been sitting in Whitehall for a considerable time and would always have been implemented regardless of who had won the recent general election. But even that plan will barely scratch the surface.

The media and the politicians talk about a deficit of £163 billion pounds. They also talk about a budget plan to cut the debt by half in four years. THAT IS A LIE !

£163 billion is just THIS YEARS debt.

Their plan will only reduce the year on year debt to £85 billion by 2014.

The total outstanding debt is already £908 billion ( http://www.debtbombshell.com/ ) rising to £1375 billion by 2014.

That’s equivalent to £53,000 per tax payer.Imagine how long it will take the average person to save that.

Or imagine receiving a tax bill for that amount.

Just the interest on our debt for this year will be £43 billion. That's £1,900 for each and every household in the UK.

Remember this debt was largely created by bad practices in the Private financial services sector. All that has happened is that PLC debts have been transferred to Public Debt which will be addressed through 'Austerity Programs'.