money and numbers being two of them,
photograph Wolfgang Rattay | Reuters of Siemens Energy site in Muelheim
an der Ruhr, Germany, August 3, 2022. Let me explain, at home or in small business, you can not spend more than you have in your account, or if you do you have to arrange a overdraught, go over it and the bank is very quick to not honour your cheques drawn on it, so I am always amazed when I read headlines like this: "Siemens Energy clinches state guarantees as it posts a 4.6
billion euro annual loss" how did that happen? if I wrote a cheque for £4.60 over my limit never mind a cheque when I am approaching 4.6 Billion, my bank would have not honoured it, also it is the numbers that these businesses role off of their tongues, 4.6 Billion, what a amazing amount, and here is another one,
photograph Mike Kemp | Credit: In Pictures
via Getty Images, how about a £3bn increase in the bill in one
month? yes in the UK we are building a railway form London to Birmingham, and
in one month the bill has risen by three Billion pounds! all of these numbers
and the way big businesses works I just
do not understand, it must be me, for the Siemens article have a
look here, for the railway we are
building article have a look here, big business, amazing!
Dear Stanley and Diana
ReplyDeleteBelieve the big boy corporations and federal governments have different options than the common citizens. Seems they can spend more than they have, use tax credits if companies or just use the money printing press if federal government. If we went into the basement and printed up any overdraft money, am sure they would put you in jail for counterfeiting. Seems only ones in power can cheat. So the more paper money printed, the less it is worth as inflation continues on all goods we are required to buy to survive. I purchased a Ford Mustang new in 1970 for $2500. Same Mustang today costs $45000. The pound and dollar can’t buy much given all the waste, corruption and cons over the years while all the politicians seem to grow rich. The governments have diluted value by OVERSPENDING and as you pointed out if you did it, you would be shut down from spending more. BUT the government and big companies continue to operate and “ borrow” or print money to stay a float. All this debt will never be repaid and day of reckoning is coming. Then there will be hell to pay-so better enjoy life now!
Regards and Happy USA Thanksgiving to you both!
John and Alley
Dear John and Alley, as you say it is amazing how little a $ or £ will buy today, and when will the crunch come? a way out is of course as it is not real money, just a number on a piece of paper, write it off, this is a quote from a post I made:
ReplyDelete"the US Bureau Of Engraving And Printing produces 38 million notes a day, so printing one trillion new notes from scratch and working seven days a week would take just over 72 years, yes 72 years! and you would need 429,646 tonnes of ink to complete the job,
stacked in one pile, one trillion one dollar notes, each 0.0043in thick, would be 67,866 miles high put another way, the stack would be 8.6 times the diameter of the earth, running through the North and South Poles (7,901 miles),
if the world’s leaders spent the one trillion dollars at the rate of a dollar a second, they would still be spending it in 31,689 years, on the other hand, if they want to get through it all within ten years, they would need to spend 3,169 dollars a second",
the post is here:
https://stanleykemp.blogspot.com/2010/05/i-have-posted-this-before.html
what I think will happen in the big settle up, is that the money on paper will disappear as if it was never there, well for the big companies but not for folks like us! all the best and a happy Thanksgiving, Stan and Diana.