Archive for November, 2007
Money is debt, debt is imaginary money
This video outlines what money is, where it comes from (nowhere), and why we should (or shouldn’t) care.
If money is debt, then paying off debt reduces the supply of money. So what about interest? Since the money to pay the interest does not actually exist, loans can never be paid off without creating more [...]
Christmas cancelled: China revokes over 750 export licenses
Chinese officials have revoked the export licenses of more than a third of its toy factories. With all these toy recalls and lead scares, it’ll be amazing if the holidays don’t get postponed this year.
[via Consumerist]
Debt collectors won’t necessarily leave you alone just because your income is exempt from garnishment
Alpha Consumer’s article about dealing with debt for a disabled son reminded me of a number of phone calls I have received from consumers in a similar position to the disable son’s:
About eight months ago our son, who is 45, suffered a brain injury, resulting in the loss of short-term memory. He was between jobs, [...]
