“I’m living so far beyond my income that we may almost be said to be living apart.” – H.H. Munro
This is the start of a little series I’m going to do over the Christmas season on money quotes. Fortunately this quote doesn’t apply to me at the moment but apparently it does apply to a lot of my neighbours. We were recently informed by the Bank of Canada that on average Canadians owe about $1.50 for every dollar of disposable income or about which is apparently about $91,000 each on average. I tihnk that we should then pile on each person’s share of government debt - $16,000 for living in Canada, another $19,000 for living in Ontario.
The obvious (to me) conclusion is that the whole money thing is just a game. No one actually expects everyone to pay off this level of debt. If we tried we wouldn’t be able to buy anything new. and then all those people who make their living selling new stuff wouldn’t have a way to pay their part of the debt.
It is a good example of how money, or more specifically credit, has created a disconnect between the consumer and reality. For now everyone is happy to keep this system propped up so no one call in the debts and they will let you spend your 2013 earnings in 2011 because the other option is change.
My question is that while imaginary money can be unlimited we live on a finite world. So how far off is the day that real physical resources are too precious to trade for vague promises of payment in the distant future?
2 comments:
Nice blog sir.. Came across you by accident. When you mentioned 37, below, I thought you might have meant the Highway in the State of Indiana, where I live. It connects my home, Bloomington, in the South, with Indianapolis, at the center of the state.
In any case, I eventually surmised you are from Canada. Perhaps I will discover where this 37 "to the land" is.
Thanks... and keep writing. You have a talent, and clarity that is great.
Andy Coffey, Bloomington, IN
Happy New Year
Thanks
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