Prior to 2008 I guess many people held share and property portfolios that looked great on paper:
MQG $102.00 May 2007
NCM $40.00 March 2007
BHP $48.70 May 2008
RIO $155.35 May 2008
As we now know all that paper wealth has been wiped of the face of the earth since then; however, I concede it has come back a little. So if QE is not money printing can you please tell me where the new money is coming from? Certainly not from exports as our imports are always above that figure.
I love your utopian financial model where we can stop all manufacturing of real goods and earning money and just simply have the government make the money appear through QE or whatever they want to call it. If it’s not printing then we won’t even need the dollar note presses etc.
Like communisis your plan looks excellent on paper I just have doubts that it can work.
Producing real tangible saleable goods over and above our current societies needs for sale to others is a system that has been well and truly tested over the years and the only one I can see being successful.
Just because earing ones standard of living is so well and truly out of vogue doesn’t mean it will never become fashionable ever again!
I really do wish you luck my friend you appear to be more than happy with the current smoke and mirror situation and that all is well.
My own method in business was to employ good people pay them well and produce high quality goods for sale and use in the mining industry. Doing so allowed me to make more money each month than I required at the time and the surpluses where saved for the future. Whist this may sound very old fashioned to some of you chaps all I can say is it worked for me.
