The Mystery of Money or how I learned to stop worrying about debt and deficits.

salesWhen Leigh Sales asked Bill Shorten on Thursday night how he was going to pay for the promises he made in his budget reply speech, Bill dodged the question. Well, why shouldn’t he? Politicians do that. But the answer he should have given was: The same way governments pay for anything. They credit our bank accounts with money the Reserve Bank creates out of thin air.

If the broader Australian community understood the principal of the three sectoral balances, they would be immune to the lamentable language used by politicians, journalists, business commentators and television anchor men and women who demonstrate daily how little they know about money.

Read more at: The Australian Independent Media Network

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Think Left

The purpose of Think Left is to present a view of politics from a left-wing perspective.

Round The World in 79 Days

Melbourne . Auckland . Houston . Orlando . Washington DC . New York . Madrid . Malaga . Barcelona . Geneva . Brig . St. Moritz . Paris . Brussels . Berlin . Pragua . Budapest . Zagreb . Ljubljana . Venice . Koto . Corfu . Valletta . Catania . Naples . Rome . Brindisi . Bangkok . Tokyo . Mt. Fuji . Kyoto . Hiroshima . Melbourne

The Mugwump Post

Australian Politics

Unions. Politics. And stuff.

Tracking Abbott's Wreckage

The AIM Network

The Australian Independent Media Network

The Extinction Protocol

Geologic and Earthchange News events

The Obama Diary

President Barack Obama ... photos, videos & a word or two

Spinthedoctor

Turning the tables on spin

%d bloggers like this: