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Who Do We Owe Money To? It isn't Real!

Everyone is in debt. That seems to be the case. But if we all owe money to whom are we indebted? Who are these fat cats who spend their days on the beach having cool drinks brought to them while they while away the time sunbathing?

If truth be known the money does not actually exist. It has been created in the books of independent and national banks. In centuries passed the local blacksmith acted as the bank. Gold, silver and promissory notes were left in his safe. He soon became aware that the "goods" left for safe keeping would not be taken out by the owner for a very long time, if ever. For storing the valuable minerals and promissory notes he gave promissory notes in return. This meant that he could create money. He could also give loans, a large part of which would return directly back because the debtor opened a new account.

When large private banks started, governments gave an assurance that a run on an institution would be protected by public money. We have seen how silly this concept has proved to be by the US and European governments bailing out private banks. Private debt has become public debt. This on top of the mushrooming private debt worldwide.

Much of Western debt is owed to China which buys US bonds. It is a mistake to believe that it wants the money back any time soon. If it did the world economy would grind to a halt. Then, who would buy its exports?

The real problem is economics. This social science is just theory. There are complicated models that do not apply to the real world, with demand and supply curves, meeting long term average costs and so on. Real business doesn't operate that way. There is not one model for cost plus 10 or 20 percent, or get it cheap and sell high until demand stops then throw the stuff out. That is how business really runs.

Note the supermarkets, they don't cut the price of everything that doesn't sell. They would rather throw it away than sell it. After all, they make the supplier take the loss. Economic advisers have not helped one government to balance the books. And the advice they are giving now to raise taxes and cut spending will surely prolong the recession. Cutting debt is like turning the water tap down - someone has to go without! Let's be honest much of this debt will never be paid. It doesn't really exist.

Economics by Ty Buchanan

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Society by Ty Buchanan

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Bad Joke Dog

"What a bad joke - messed up my day!"
Funny Animal Photos by Ty Buchanan

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Funny Animal Photos by Ty Buchanan

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Court Decisions are Ridiculous

It seems that you can get away with anything if you put up an absurd defense. A woman was charged for driving her car without lights while the car had a flat tyre. The woman's defence was that she had taken the sleeping drug Stilnox earlier and she couldn't remember driving. Being interviewed by police was also lost to her memory.

Remember the weird claims made when Prozac was first brought onto the market? You don't hear anything bad about Prozac today. The same thing will happen for Stilnox. If the drug is so dangerous it would not have been allowed onto the market at all. It is just convenient to have something to blame for strange behavior.

The Court found in favor of the woman. It must be said when reviewing court decisions that the government puts weird people in charge of courts. Magistrates and judges continue to give lenient sentences despite pleadings by police and the public. They are certainly a law unto themselves. Indeed, many judges believe that they are above the law. They see the separation of powers as an avenue to become dictators which gives them the right to make absurd decisions. They recently found a fellow judge not guilty of sexual assault!

Law by Ty Buchanan

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No Improvement in Mental Health

After a great deal of research we still do not know what mental illness is and what causes it. There seems to be only general ways of categorizing individuals suffering mental problems. Each person's illness tends to be unique. Some people are on extremely high levels of medication. Indeed, many have to rotate medications because the drugs lose their effectiveness.

It is no wonder spending on the treatment of mental illness has not increased in the last twenty years. Reforms carried out have not improved matters at all. When sufferers attempt suicide they are kept in the mental health section of public hospitals, given medication and sent on their way a day or so later. There is usually a little talk with them, but they are thrown out to deal with life's problems, alone.

Nearly half of Australia will have mental problems at some time in their lives. This is a frightening statistic. Furthermore, there is discrimination. In OECD countries Australia is near the bottom for the number of people in the workforce who have mental issues.

It is difficult to treat something that is not understood. If your hip or knee fails you, an operation providing a new joint is an option. For mental illness there are many medications that only seem to help for a short time. The only form of treatment that has been there from the beginning is talking to the patient. This will continue of course.

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Health by Ty Buchanan