ALmost 10 years ago in February 2009 , I participated in a discussion on the Motely Fool ( Love Mony) web site about House prices and so forth.
A couple of years later I made my first comment on the Golem XIV Blog.
RogerGLewis May 18, 2011 at 5:16 am #
Hi Golem and hello to all the other excellent contributors of comments to this blog, there is a lot of reading to do here with the links which are also posted and I will get through it “one grain of sand at a time”.
I was directed here by a comment posted in Sturdy Blog http://sturdyblog.wordpress.com/2011/04/08/to-whom-do-we-owe-this-money-exactly/#comment-610
I was speaking to David on Skype the other day, David is writing a couple of books at the money one of which I have just given him some feedback on it’s about Artificial Intelligence. The politics of AI, not the science.
Your First Blog here in 2010.
History of the last thirty years for Daily Mail readers: Tory social policies + New Labour economic policies = disaster.
History of the last thirty years for Guardian readers: Tory economic policies + New Labour social policies = disaster.
History of the last thirty years for Independent readers: Tory built-environment policies + New Labour single-parent policies = disaster.
History of the last thirty years for Sun readers: Tory Major sleaze policies + New Labour nutter immigration policies = disaster.
History of the last thirty years for Daily Telegraph readers: Tory welfare policies + New Labour pension policies = disaster.
If you too get the feeling that we need a new media set and a new political line-up, stay tuned to this site….and tell me what you think.
China sells US Debt. WHO BUYS?
by Golem XIV on FEBRUARY 18, 2010 in UNCATEGORIZED
China openly sells a record amount ($34B) of its US debt.
Why? It could be because China feels restive about the level of US debt. Or it could be to smack Washington’s nose for having defied the Chinese over US arms sales to Taiwan. Either way, it is a using debt as a BIG political stick. Welcome to the new politics.
Two further questions: Will China sell more, and Who is buying?
Experts opine that China can’t afford to sell too much too quickly as it would collapse the value of the rest of its $1T plus of US Debt it has bought. True. But they can sell as much as they want provided they do it slowly. Say they sell $34B next month also. Will the rest of the market panic, sell, and screw themselves? No. The Chinese can sell so long as they ‘boil the frog’ slowly.
Who is buying. The US has to sell a Trillion in new debt in the next two years. It also has to roll over or re-sell short term debt that will come back on to the market. The Japanese have to sell hundreds of billions of Dollars worth of their own debt and so do we and so does the EU. So who out of all these debtors has spare cash to buy US debt?
Answer , we do. This last month the UK bought £24B worth of US debt. That is, WE bought everything the Chinese sold and MORE! And we did this in the same month that public sector borrowed a record level of £3.34B.
WHY? Why buy their debt when we are sinking into debt ourselves? Will this help you and your family at all, in any way whatsoever?
AND WHAT DID WE PAY WITH?
Think about it.
In the coming months and years, there are three decisions for every thinking and able-bodied human on Earth to make: will I speak out or simply stay in my stockade, remaining in ideological denial mode? Will I accept the social need for civic compassion – or laugh at the idea and wind up on the list of those left behind? And will I work to devolve power back down to thriving communities and take responsibility in that social context? The Slog examines why those decisions will make a difference to our very survival.
This may seem like an unkind start, but I am glad that Owen Jones is highly unlikely to have children. I get this feeling whenever I hear the “thoughts” of people like Stephen Kinnock, Hilary Benn, Mark Thatcher and Lily Allen.
There are those who end up being proved wrong through ignorance, bad luck, force majeur…
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