Quote of the day 5th August 2014
“Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”
(Ogden Nash)
(Ogden Nash)
Nick Herbert on his visit to flood hit areas of Cumbria
Please note that the post below was published more than ten year ago on 21st November 2009 Nick Herbert MP, shadow cabinet member for the Environment, Food, and Rural Affairs, was in Cumbria this morning to see the areas affected by the flooding. He writes on Conservative Home about his visit. Here is an extract. I’ve been in Cumbria today to see the areas affected by the floods. I arrived early in Keswick where I met officials from the Environment Agency. Although the river levels had fallen considerably and homes were no longer flooded, the damage to homes had been done. And the water which had got into houses wasn’t just from the river – it was foul water which had risen from the drains. I talked to fire crews who were pumping flood water back into the river, and discovered that they were from Tyne & Wear and Lancashire. They had been called in at an hours’ notice and had been working on the scene ever since, staying at a local hotel. You cannot fail to be impressed by the
Comments
If the cash machine wss broken and you said "could you lend me a tenner for lunch please" then actually you the debtor, may feel more awkward than me the creditor, for asking.
I may well have forgotten next time i see you, but you would feel awkward and uncomfortable if you did not repay it.
others say you asked for £1000 for a new bike or something then that's different - sure its great to get it and chore to pay it back (especially if the bike is now a year old and you are bored with it)
but the key difference is a bank never lends anything, they just create it out of thin air, then use that creation to fractional lend and then expect you to produce the same amount, give it to them and pay interest on it, when all the time of course there was actually nothing "lent" to pay back. The only thing the bank done was monitised the new debt you created, then used that very debt to create another 9x that amount of "money" then demanded back the "money" and charged interest.
My contemporaries at school used to joke that "All generalisations are dangerous including this one" and with that caveat Nash's joke is about as true as any generalisation gets.