I read earlier this week that the British National Debt is 7.9 trillion pounds. This is according to the Taxpayers Alliance. This amounts to £300,000 for every household in the country. I think by exaggerating they make all the rest of their arguments seem unbelievable too. You could argue that the government needs to invest several millions of pounds in order to pay those ridiculously high pensions they have promised all the judges and top civil servants. You could also argue that they can be paid out of future revenues. The Taxpayers Alliance would argue the former to convince us that the nation is severely indebted and make their cause sound plausible.
If you burn paper money, do you destroy it? The answer is technically, no. The value of money is all about supply and demand and so if you burn a 50 pounds note, a 50 dollar note or a 50 Euro note; you are decreasing demand and making all the rest of the money in circulation more valuable. You may be destroying one note, but you aren’t destroying overall value! The Bank of England is currently doing the opposite, creating rather than destroying money but in doing so they are increasing demand and so making the money already in circulation less valuable. (more…)
I took this photograph not far from my home and it’s of a particularly well maintained church. Don’t get the idea that this is the English Countryside. The cars just visible to the left of that tree were streaming off the M6 motorway at rush hour! Junction 9 is probably the busiest in the country but we still found somewhere to go to take photographs that was interesting. Earlier that afternoon it was very cloudy and the light was bad but we still took some photographs of a railway. This was near my old school and so I took a few photographs of that too. This shows you can find places to go that doesn’t cost a fortune and why not take the kids? (more…)