The World Economy

This is something I have thought about for quite a while.  I am finally in the position to be able to share my views with you. The world’s economies are not growing at a rate sufficient to justify us carrying on with this failed system. It seems that the best part of this century will be spent in futility waiting for economic growth. To make it worse we all know there will be none. So the logical solution to me? Write off 50% of the entire worlds debt. Arguments could even be made for more but 50% is a substantial start.

Next Steps?

Growth will happen at a much more rapid rate. The truth is cutting spending is not how countries make money. The money is tied into infrastructure which gets more and more expensive the longer it is delayed. On an individual level, everyone will have infinitely more disposable income. This will almost certainly be in service of the economy. The less people are forced to borrow the more the extortionate rates will collapse on lending.

Politics As Usual

I truly believe waiting for politicians to apply their collective brain power towards a solution for the world’s economic dilemma is backing the wrong horse. Things are happening at such an abysmally slow rate. I for one worry for the future generations and the legacy they will inherit. Frankly I’m also angry at the possibility of spending the rest of my life in a planetary debt ridden era. I think of all the countries who were set up to fail from the start by having their resources robbed. I think of the countless countries in the back pockets of the IMF and I really think how this was allowed to happen? Who wins from this?

The Danger of Humility: Now Common Courtesy Attracts Exploitation

Greed is Good For The World Economy

The ones who have benefited from this economic downturn? Those gambling with other peoples money or charging for lending. Banks have been allowed to get away with far too much for too long. What we need is people empowered and banks introduced to the reality that they work for the people. They should act in the interest of the masses. It is true that banks are a stabilising factor in the world and help to ensure trade is possible. However, they now offer less and less to their customers while taking more and more from their money.

The Bank’s Interest

Most banks do not even operate a service which educates the customer. How many people know the proper use of a current account? Did you know that the only reason to have a current account is for your wages to get paid into it and bills/direct debits to get taken from it? It offers almost no incentive for having extra money in the account and it would be wise if you do not already hold other accounts to open them.

Free Knowledge

Accounts such as a tax free ISA (Individual Savings Account) these allow you yo save for a year (within the threshold) without paying tax on the interest.  If you have online banking almost every bank offers a version of an online savings account. These normally pay interest monthly and most allow you unlimited withdrawals without forfeiting the interest (check the terms and conditions before opening).

Why Double Standards Are Here Ruining Society

Online savers do tax the interest but the interest rate is a lot more worthwhile than that of your current account. It is much easier to manage money online and most of the time it is a pretty secure way of performing transactions so while it is ok to be apprehensive there is not much more risk online than there is to your bank being robbed in person. So feel free to join the online revolution absent fear if you have not already done so.

Thanks

I hope you have found this interesting and I welcome any and all feedback as usual.

The Thought Book 2 Sold As Pictured…

About Jay Mullings

Multiple Award-winning Screenwriter, Author, Blogger, Film Director and Founder of Written Mirror Ltd. Jay is an ambitious but humble creative who wants to connect with audiences all over the world. Born in London but raised in Jamaica, Jay carries his experiences of both cultures and lends it to his work with his unique but authoritative voice which, he admits not seeing represented enough growing up.

Enquiries…

I can be reached for serious comment and article contributions via email jay@writtenmirror.com if it’s a formal request.