My personal understanding of economy is ‘spend less than you earn’. This motto has always kept me out of financial trouble and even prepared me for those rainy days that seem to happen along from time to time. To my mind it is simple responsibility and common sense. If for some reason I forget to pay a bill, or run a little short from one month to another, there is always someone ready to remind me of my responsibilities and send me a polite reminder, or in some cases mild threats and intimidation.
Read banks and tax officers here. However, I don’t mind. It’s all part and parcel of our credit, boom and bust, consume as much as you can on your Visa card economic miracle we call capitalism. We all know what happened to the other economic model in 1989, don’t we? So I was hardly surprised to read last week that the home of the capitalism miracle, the US of A has issued their budget for 2011. However it seems just a little bit light on for income, and a bit heavy on the spending and credit card side. Only to the tune of $1.7 trillion. ONE POINT SEVEN TRILLION DAMN DOLLARS!!
How much is that anyway? I have no idea. May as well be 100 to the power of infinity. Up to now I thought Trillion was a character in a Douglas Adams novel. Oh that’s right, her name was Trillian. Close anyway. The cool thing though, is that someone is going to want this money back at some stage surely. And who is going to receive the bill? Ha! No prizes for guessing. The whole population of this global economy that we used to call the world, that’s who. Economics. Ah! One of my favourite fantasy reads.