"I've suddenly got fat."
Who Do We Owe Money To?
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.
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.
Ostriches Use Wings to Run
The mystery of why dinosaurs evolved feathers has been solved. Observation of ostriches shows that wings are used to retain balance while running. Far from being evolutionary leftovers, they are used constantly.
This finding was made by breeding ostriches that were "human-friendly". Then they were then able to be tested, which took place when they were three years old. The ostriches were made to run down a 300 meter "track", indoors. They were seen to zigzag, brake and turn, guiding their bodies using wings as rudders.
Tests showed that feathers provided lift which improved stability. All living flightless birds are able to evade capture by quickly turning one way then the other. Without wings they would not be able to do this.
This finding was made by breeding ostriches that were "human-friendly". Then they were then able to be tested, which took place when they were three years old. The ostriches were made to run down a 300 meter "track", indoors. They were seen to zigzag, brake and turn, guiding their bodies using wings as rudders.
Tests showed that feathers provided lift which improved stability. All living flightless birds are able to evade capture by quickly turning one way then the other. Without wings they would not be able to do this.
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Woman Complains About Gollywogs
Be careful! There might be a gollywog about. A Melbourne woman saw a gollywog doll for sale and she is now campaigning to stop it. But is she stopping racism or preventing the gollywog from existing? This all goes back to the Noddy series of books by Enid Blyton. Gollywog, who held an important position as Toytown garage proprietor, was a major character. Enid Blyton had no racial intentions by including him. Though she did admit that she hated children.
The woman says, “It’s a shock to see them brought back." They didn't actually go away. They have been available for many years in shops despite Gollywog's removal from Blyton books after 1980.
These days you can buy Caucasion, Asian and African style dolls, so what is the big problem about selling gollywogs? Banning things always causes problems because it makes an issue out of something when no bad feeling is intended. Australians used to call people from Italy and Greece wogs in the 1960s and 70s. These new Australians made it into a badge. Remember the wog series of films?
This lady is reading something into the situation which really isn't there. She complains, "There is an elegant white ballerina doll whereas the black doll is seen to be poorly dressed." Gollywogs were always dressed in a type of uniform, dungarees. She probably interprets this uniform as being "poorly dressed". Obviously there is demand for them, otherwise they wouldn't be for sale. Perhaps a dark skinned child wants one for comfort, a friend to play with.
The woman says, “It’s a shock to see them brought back." They didn't actually go away. They have been available for many years in shops despite Gollywog's removal from Blyton books after 1980.
These days you can buy Caucasion, Asian and African style dolls, so what is the big problem about selling gollywogs? Banning things always causes problems because it makes an issue out of something when no bad feeling is intended. Australians used to call people from Italy and Greece wogs in the 1960s and 70s. These new Australians made it into a badge. Remember the wog series of films?
This lady is reading something into the situation which really isn't there. She complains, "There is an elegant white ballerina doll whereas the black doll is seen to be poorly dressed." Gollywogs were always dressed in a type of uniform, dungarees. She probably interprets this uniform as being "poorly dressed". Obviously there is demand for them, otherwise they wouldn't be for sale. Perhaps a dark skinned child wants one for comfort, a friend to play with.
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