Tag Archives: economic

Public Sector Debts and their Absurdity

 

English: HM Treasury Crest

English: HM Treasury Crest (Photo credit: Wikipedia)

Social Credit is the antithesis to Public Debts.

The Absurdity of the National Debt was already published by the then Duke of Bedford in 1947 but didn’t make a difference.

To the contrary: the dependency of Governmental budgets on Public Sector Borrowing Requirements (PSBR) kept increasing over the decades. In other words: Governments continue to sanction public debts for vested interest payments.

This chart published by the Economic Research Council shows the absurdity in nowadays terms, covering 2010 – 2060 in five different population scenarios.

Budgets 1999 - 2012

This chart covers the past years since 1999, when HM Treasury started to publish budgets in a similar way every year.

“Interesting” how the interest costs rose above the defence costs in the 2008 crisis when ‘other’ costs began the ‘austerity cuts’…

The difference that the national debt makes is the amount of vested interest payments!

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Debt: the First 5000 Years – a new book about an old problem

From David Graeber, the author:

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Hello, friendly strangers, I’m delighted to announce my new book….

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DEBT: THE FIRST 5000 YEARS

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is finally, finally out!

http://www.amazon.co.uk/Debt-First-5-000-Years/dp/1933633867

This is a work of scholarship, and politically engaged, but it’s also an attempt to break out of the usual academic and activist ghettoes, and I wrote it that way because I think that there’s a conversation we need to be having, not just nationally but also globally, that we began to have for a few months after the financial crash of 2008, and which has, since, been indefinitely postponed.

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Our Purpose

This blog addresses the core issues of what’s labelled as the credit crisis.  It distinguishes between

  • economic language – knowing that economics has been created as a soft social science to camouflage what central banks and banks are doing – for private benefit rather than the public good
  • monetary language – knowing that the currency of a nation is being manipulated for the purpose of reaching the aim of world government via a single global currency (please google yourself instead of us providing the link) and a single central bank (the World Bank)
  • financial language – the statistics that accountants produce and numbers that people use to compare and measure developments over time.

Our online petition Stop the Cash Crumble to Equalize the Credit Crunch addresses the issue by asking the Treasury Select Committee to make an inquiry into the money supply.

This means establishing the share of the Cash that the Treasury generates and the Credit that banks create, especially with a view to long term effects regarding climate change.